Guideline Value for INDIRA NAGAR PILLAIYAR KOIL STREET

Indira Nagar Pillaiyar Koil Street guideline value

The current guideline value of Indira Nagar Pillaiyar Koil Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village, under the Selaiyur Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - II.

How the guideline value of Indira Nagar Pillaiyar Koil Street has changed

Over the years, the guideline value of Indira Nagar Pillaiyar Koil Street has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then decreased to Rs 1,005 per sq.ft in the 2017 revision. In 2023, the value increased to Rs 1,500 per sq.ft, and the latest revision in 2024 has raised it to Rs 1,600 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. The overall change from 2012 to 2024 shows a modest increase of 7%. The most recent change from 2023 to 2024 reflects a 7% increase in the guideline value.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 2,725 per sq.ft, making Indira Nagar Pillaiyar Koil Street's 2024 figure below the median.

• Indira Nagar Periyar Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Rajaji Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Rajashimman Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Pandian Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Rajiv Gandhi Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Pallvan Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar Pillaiyar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost together to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Indira Nagar Pillaiyar Koil Street?

The Sub Registrar Office that covers Indira Nagar Pillaiyar Koil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Perumbakkam

The guideline value plays a crucial role during the registration of property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, ensuring transparency in the property transaction process.

Frequently asked questions

What is the current guideline value of Indira Nagar Pillaiyar Koil Street?

The current guideline value of Indira Nagar Pillaiyar Koil Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Indira Nagar Pillaiyar Koil Street?

The land classification for Indira Nagar Pillaiyar Koil Street is Residential Class II Type - II.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Indira Nagar Pillaiyar Koil Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 16,00,000, leading to stamp duty and registration fees totaling Rs 1,44,000.