Guideline Value for Erattai Pillayar Koil Street

Erattai Pillayar Koil Street guideline value

The current guideline value of Erattai Pillayar Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Erattai Pillayar Koil Street has changed

Over the years, the guideline value of Erattai Pillayar Koil Street has seen significant changes. In 2002, the guideline value was Rs 355 per sq.ft, which increased to Rs 402 per sq.ft in 2003, marking a 13% rise. The value continued to rise, reaching Rs 800 per sq.ft in 2007, reflecting a 99% increase from the previous revision. By 2017, the value had further increased to Rs 1,340 per sq.ft, showing a 68% jump. In 2023, the guideline value was Rs 2,000 per sq.ft, a substantial 49% increase from 2017.

The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, which is a 10% increase from the 2023 figure. It is important to note that the register has no figure for the year 2012 for this street.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median value among these streets is Rs 2,090 per sq.ft, placing Erattai Pillayar Koil Street's 2024 figure above the median.

• Eratai Malai Srinivasan Street: Rs 1,980 per sq.ft (2024)
• Ennaiyeram Street (Samnudeswari Nagar): Rs 1,980 per sq.ft (2024)
• Elumalai Street (Thiruvallur Nagar): Rs 2,475 per sq.ft (2024)
• Elumalai Street (Thiruneermalai Salai): Rs 1,980 per sq.ft (2024)
• Elumalai Street, Moovendhar Nagar: Rs 1,980 per sq.ft (2024)
• Elumalai Cross Street, Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Erattai Pillayar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Erattai Pillayar Koil Street?

The Sub Registrar Office that covers Erattai Pillayar Koil Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Pammal

The guideline value plays a crucial role during property registration in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value and the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Erattai Pillayar Koil Street?

The current guideline value of Erattai Pillayar Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 355 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 520% over these years.

What is the median guideline value in Pammal?

The median guideline value among the 926 streets in Pammal is Rs 2,090 per sq.ft, which is below the current value of Erattai Pillayar Koil Street.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office located for this street?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.