Guideline Value for PICHU PILLAI STREET

Pichu Pillai Street guideline value

The current guideline value of Pichu Pillai Street is Rs 9,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village under the Mylapore SRO, classified as Residential Class III Type - II.

How the guideline value of Pichu Pillai Street has changed

The guideline value for Pichu Pillai Street has seen significant changes over the years. In 2002, the guideline value was Rs 872 per sq.ft, which increased to Rs 969 per sq.ft in 2003, marking an 11% rise. After that, the value surged dramatically to Rs 8,500 per sq.ft in 2012, a staggering increase of 777%. However, it dropped to Rs 5,695 per sq.ft in 2017, reflecting a decrease of 33%. The value then climbed to Rs 8,500 per sq.ft in 2023, followed by a further increase to Rs 9,300 per sq.ft in 2024, which is a 9% rise.

There is no figure available for the year 2007 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 967%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value is Rs 8,800 per sq.ft, placing Pichu Pillai Street's 2024 figure above this median.

• Pichu Pillai Lane: Rs 9,300 per sq.ft (2024)
• Pidariyar Koil Street: Rs 8,800 per sq.ft (2024)
• PEYANDI AMMAN KOIL STREET (huts): Rs 3,300 per sq.ft (2024)
• Peters Road: Rs 15,400 per sq.ft (2024)
• Perumal Koil Thottam Street: Rs 3,300 per sq.ft (2024)
• Perumal Koil Thottam Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pichu Pillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,300 per sq.ft, the total guideline value amounts to Rs 93,00,000. The stamp duty at 7% would be Rs 6,51,000, and the registration fee at 2% would be Rs 1,86,000, leading to a total of Rs 8,37,000. 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 our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Pichu Pillai Street?

The Sub Registrar Office that covers Pichu Pillai Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Mylapore. It serves as a reference point for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used for calculating the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Pichu Pillai Street?

The current guideline value of Pichu Pillai Street is Rs 9,300 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 872 per sq.ft in 2002 to Rs 9,300 per sq.ft in 2024, representing an overall increase of 967%.

What is the registration office for Pichu Pillai Street?

The registration office for Pichu Pillai Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is the stamp duty calculated for properties in Pichu Pillai Street?

Stamp duty for properties in Pichu Pillai Street is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 9,300 per sq.ft would incur a stamp duty of Rs 6,51,000.

What are the other streets in Mylapore with their guideline values?

Other streets in Mylapore include Pichu Pillai Lane at Rs 9,300 per sq.ft, Pidariyar Koil Street at Rs 8,800 per sq.ft, and Peters Road at Rs 15,400 per sq.ft, among others.