Guideline Value for NORTH PILLAYAR KOIL 3RD CROSS STREET

North Pillayar Koil 3rd Cross Street guideline value

The current guideline value of North Pillayar Koil 3rd Cross Street is Rs 2,100 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the jurisdiction of the Villivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of North Pillayar Koil 3rd Cross Street has changed

In the 2012 revision, the guideline value was set at Rs 2,000 per sq.ft. This figure remained unchanged until the 2023 revision, where it also stood at Rs 2,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,100 per sq.ft, marking a 5% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 5%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, indicating that the 2024 guideline value for North Pillayar Koil 3rd Cross Street is below this median.

• North Railway Station Road Chennai - 76: Rs 3,800 per sq.ft (2024)
• Officers Avenue: Rs 2,900 per sq.ft (2024)
• Old Post Office Road (New Colony): Rs 2,100 per sq.ft (2024)
• Olympic Nagar: Rs 1,600 per sq.ft (2024)
• Om Sakthi Nagar: Rs 1,600 per sq.ft (2024)
• Om Sakthi Nagar (Near Pdr Nagar): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in North Pillayar Koil 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value amounts to Rs 21,00,000. The stamp duty at 7% would be Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, bringing the total to Rs 1,89,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers North Pillayar Koil 3rd Cross Street?

The North Pillayar Koil 3rd Cross Street is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Korattur. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is considered the minimum value for taxation purposes. Therefore, it is essential for both buyers and sellers to understand how the guideline value affects their financial obligations during property transactions.

Frequently asked questions

What is the current guideline value of North Pillayar Koil 3rd Cross Street?

The current guideline value of North Pillayar Koil 3rd Cross Street is Rs 2,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 2,000 per sq.ft in 2023 to Rs 2,100 per sq.ft in 2024, marking a 5% increase. Overall, from 2012 to 2024, the guideline value has increased by 5% as well.

What is the land classification for North Pillayar Koil 3rd Cross Street?

North Pillayar Koil 3rd Cross Street is classified as Residential Class III Type - I. This classification is important for determining the uses permitted on the property.

What is the registration office for North Pillayar Koil 3rd Cross Street?

The registration office covering North Pillayar Koil 3rd Cross Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It serves as the minimum value for taxation purposes, ensuring that buyers and sellers are aware of their financial obligations when registering a property.