Guideline Value for Chidambaram Pillai Street

Chidambaram Pillai Street guideline value

The current guideline value of Chidambaram Pillai Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Chidambaram Pillai Street has changed

In the 2023 revision, the guideline value was set at Rs 8,000 per sq.ft. The most recent revision in 2024 saw an increase of 9%, bringing the value to Rs 8,700 per sq.ft. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017 for this street.

Comparing the revisions, the increase from 2023 to 2024 reflects a notable adjustment in the guideline value. The 2024 figure of Rs 8,700 per sq.ft is an important reference for property transactions in this area.

Guideline values in Mylapore Part 2

Mylapore Part 2 consists of 332 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Chidambaram Pillai Street's 2024 figure below that median.

• Chenti Chetty Street: Rs 8,700 per sq.ft (2024)
• Chitharanjan Lane: Rs 15,400 per sq.ft (2024)
• Chellappa Naicken St: Rs 8,700 per sq.ft (2024)
• Chittaranjan Salai: Rs 15,400 per sq.ft (2024)
• Chockalingam 1st Street: Rs 8,700 per sq.ft (2024)
• Chockalingam 2nd Street: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in Chidambaram Pillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total to Rs 7,83,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chidambaram Pillai Street?

The Sub Registrar Office that covers Chidambaram Pillai Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a crucial reference point for property transactions in Mylapore Part 2. It determines the minimum value at which property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value influences the stamp duty and registration fees that must be paid. Buyers should be aware of the current guideline value to ensure they are prepared for the associated costs during the registration process.

Frequently asked questions

What is the current guideline value of Chidambaram Pillai Street?

The current guideline value of Chidambaram Pillai Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Chidambaram Pillai Street was Rs 8,000 per sq.ft in 2023 and increased to Rs 8,700 per sq.ft in 2024, reflecting a 9% rise. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 87,00,000, the stamp duty would be Rs 6,09,000 and the registration fee would be Rs 1,74,000, totaling Rs 7,83,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Chidambaram Pillai Street?

The Sub Registrar Office for Chidambaram Pillai Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the land classification for Chidambaram Pillai Street?

The land classification for Chidambaram Pillai Street is Residential Class I Type - III. This classification indicates the type of residential use permitted in the area.