Guideline Value for KUTTADUM PILLAIYAR KOIL STREET

Kuttadum Pillaiyar Koil Street guideline value

The current guideline value of Kuttadum Pillaiyar Koil Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village under the Chennai South Joint II SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Kuttadum Pillaiyar Koil Street has changed

The guideline value for Kuttadum Pillaiyar Koil Street has undergone several revisions over the years. In 2002, the guideline value was Rs 801 per sq.ft. This increased to Rs 1,003 per sq.ft in 2003, marking a 25% rise. The value then saw a further increase of 30% to reach Rs 1,300 per sq.ft in 2007. By 2012, the value jumped significantly to Rs 4,500 per sq.ft, which was a 246% increase. However, this value decreased by 33% to Rs 3,015 per sq.ft in 2017. The guideline value rose again to Rs 4,500 per sq.ft in 2023, and finally to Rs 4,950 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 518%. The register has no figures for the years not mentioned in the revisions listed.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Kuttadum Pillaiyar Koil Street's 2024 figure above this median.

• Kulakkarai Street: Rs 4,950 per sq.ft (2024)
• Mada Veethi Street: Rs 3,300 per sq.ft (2024)
• Kothavalchavadi Street Extn.: Rs 4,950 per sq.ft (2024)
• Kothavalchavadi Street: Rs 4,950 per sq.ft (2024)
• Kodha Medu: Rs 3,300 per sq.ft (2024)
• Kavarai Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Kuttadum Pillaiyar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, resulting in a total of Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for precise calculations based on your property details.

Which Sub Registrar Office covers Kuttadum Pillaiyar Koil Street?

The Sub Registrar Office that covers Kuttadum Pillaiyar Koil Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Saidapet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is sold or purchased.

When a buyer or seller engages in a transaction, the guideline value ensures that the property is registered at a fair value, which is essential for legal and taxation purposes. This value is particularly important in calculating the applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kuttadum Pillaiyar Koil Street?

The current guideline value of Kuttadum Pillaiyar Koil Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 801 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 518% over the years.

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

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Which office handles the registration for Kuttadum Pillaiyar Koil Street?

The registration for Kuttadum Pillaiyar Koil Street is handled by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the median guideline value for streets in Saidapet?

The median guideline value for the 106 streets in Saidapet under the Chennai South Joint II SRO is Rs 4,400 per sq.ft, with Kuttadum Pillaiyar Koil Street's value being above this median.