Guideline Value for Naina Pillai Street

Naina Pillai Street guideline value

The current guideline value of Naina Pillai Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Ist Division village under the Kanchipuram Joint IV SRO and is classified as Residential Class II Type - I.

How the guideline value of Naina Pillai Street has changed

Over the years, the guideline value of Naina Pillai Street has seen significant changes. The earliest recorded revision was in 2007, where the value was Rs 250 per sq.ft. This increased to Rs 800 per sq.ft in 2012, marking a substantial rise of 220%. However, in 2017, the value dropped to Rs 536 per sq.ft, a decrease of 33%. The value then rose again to Rs 800 per sq.ft in 2023, before reaching the current value of Rs 880 per sq.ft in the 2024 revision, which reflects a 10% increase from the previous year.

The register has no figures for the revisions in 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 252%.

Guideline values in Ist Division

In Ist Division, there are 79 streets under the Kanchipuram Joint IV SRO that carry a 2024 guideline value, ranging from Rs 800 to Rs 3,300 per sq.ft. The median value is Rs 880 per sq.ft, which is equal to the guideline value of Naina Pillai Street.

• Munram Thiruvizha Mandapam Street: Rs 880 per sq.ft (2024)
• Nemanthakara Street: Rs 880 per sq.ft (2024)
• Mudaliar Street @ Vedantham Street: Rs 880 per sq.ft (2024)
• Mottai Kulam Street: Rs 880 per sq.ft (2024)
• North Mada Street: Rs 1,650 per sq.ft (2024)
• Mettupalayam Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Naina Pillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty, charged at 7%, would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Naina Pillai Street?

The Sub Registrar Office that covers Naina Pillai Street is the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Ist Division. When buying or selling property, this value is used to determine the stamp duty and registration fees applicable during the registration process.

It is crucial for buyers and sellers to be aware of the guideline value, as it can affect the overall cost of property transactions. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and legality in property dealings.

Frequently asked questions

What is the current guideline value of Naina Pillai Street?

The current guideline value of Naina Pillai Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, showing an overall increase of 252% over the years.

What are the stamp duty and registration fees for property in Naina Pillai Street?

For a 1,000 sq.ft plot, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200 based on the current guideline value.

Which Sub Registrar Office covers Naina Pillai Street?

The Kanchipuram Joint IV Sub Registrar Office covers Naina Pillai Street, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501.

What is the land classification of Naina Pillai Street?

Naina Pillai Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.