Guideline Value for Kanda Pillai street

Kanda Pillai street guideline value

The current guideline value of Kanda Pillai street is Rs 7,100 per sq.ft. This street is located in Egmore village, under the Periamet SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kanda Pillai street has changed

The guideline value for Kanda Pillai street has seen significant changes over the years. In the 2002 revision, the guideline value was Rs 508 per sq.ft. This increased to Rs 560 per sq.ft in 2003, marking a 10% rise. The value then saw a substantial increase to Rs 1,500 per sq.ft in 2007, reflecting a 168% change. Following that, in 2012, the guideline value was Rs 6,500 per sq.ft, which was a 333% increase from the previous revision.

From 2012 to 2017, the value decreased to Rs 4,355 per sq.ft, indicating a decline of 33%. However, the guideline value rose again to Rs 6,500 per sq.ft in 2023, and then reached Rs 7,100 per sq.ft in the 2024 revision, which represents a 9% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1298%.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that carry a guideline value for 2024, ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value is Rs 7,100 per sq.ft, which is the same as the 2024 figure for Kanda Pillai street.

• Kandan Street: Rs 7,100 per sq.ft (2024)
• Kancheepuram Pachiyappa Street: Rs 8,300 per sq.ft (2024)
• Kancheepuram Pachiyappan 3rd lane: Rs 4,400 per sq.ft (2024)
• Kancheepuram Pachiyappan 2nd lane: Rs 4,400 per sq.ft (2024)
• Kancheepuram Pachiyappan 1st lane: Rs 4,400 per sq.ft (2024)
• Kareem MohideenSahib 1st lane: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kanda Pillai street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, making the total fees together Rs 6,39,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kanda Pillai street?

The Sub Registrar Office that covers Kanda Pillai street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Egmore, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. The guideline value serves as a benchmark for property transactions, ensuring transparency and standardization in the real estate market.

Frequently asked questions

What is the current guideline value of Kanda Pillai street?

The current guideline value of Kanda Pillai street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 508 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, representing an overall increase of 1298% over this period.

What is the land classification of Kanda Pillai street?

Kanda Pillai street is classified as Residential Class II Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Kanda Pillai street?

The Sub Registrar Office for Kanda Pillai street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Kanda Pillai street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 at a rate of 7%.