Guideline Value for NORTH PILLAYAR KOIL STREET

North Pillayar Koil Street guideline value

The current guideline value of North Pillayar Koil Street is Rs 401 per sq.ft, effective from 1 July 2024. This street is located in Karunguzhi village under the Madurandakam SRO, classified as Mixed Type - I land.

How the guideline value of North Pillayar Koil Street has changed

The guideline value for North Pillayar Koil Street has undergone several revisions over the years. In 2007, the value was Rs 80 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2012. However, it saw a decrease to Rs 268 per sq.ft in the 2017 revision. The 2023 revision brought it back up to Rs 400 per sq.ft, and the most recent 2024 revision has set it at Rs 401 per sq.ft, showing no change from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. The jump from 2007 to 2012 was a remarkable 400%, while the overall change from 2007 to 2024 reflects a substantial increase of 401%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Karunguzhi

In Karunguzhi, there are 37 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 401 to Rs 1,000 per sq.ft. The median value for these streets is Rs 401 per sq.ft, which matches the current guideline value of North Pillayar Koil Street.

• Old Post Office Street: Rs 401 per sq.ft (2024)
• Ottha Vaadai Street: Rs 401 per sq.ft (2024)
• Navidhar Street: Rs 401 per sq.ft (2024)
• PALLA PETTAI (a) KAIKKOLAR PETTAI: Rs 600 per sq.ft (2024)
• Parvatha Rajagula Street: Rs 401 per sq.ft (2024)
• Pattai Street: Rs 401 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 401 per sq.ft, the total guideline value amounts to Rs 4,01,000. The stamp duty at 7% would be Rs 28,070, and the registration fee at 2% would be Rs 8,020, bringing the total to Rs 36,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers North Pillayar Koil Street?

The Sub Registrar Office that covers North Pillayar Koil Street is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

You can find your SRO for more information.

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

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

When registering a property, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of North Pillayar Koil Street is Rs 401 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 80 per sq.ft in 2007 to Rs 401 per sq.ft in 2024, reflecting an overall increase of 401% since the 2007 revision.

What is the registration fee for a property in North Pillayar Koil Street?

The registration fee for a property in North Pillayar Koil Street is 2% of the guideline value. For example, on a property valued at Rs 4,01,000, the registration fee would be Rs 8,020.

Where can I find the Sub Registrar Office for North Pillayar Koil Street?

The Sub Registrar Office for North Pillayar Koil Street is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

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. Buyers must pay duty based on the higher of the guideline value or the sale price.