Guideline Value for PIDARAIYAR KOIL STREET

Pidaraiyar Koil Street guideline value

The current guideline value of Pidaraiyar Koil Street is Rs 330 per sq.ft, effective from 1 July 2024. This street is located in Nanthiambakkam village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Pidaraiyar Koil Street has changed

Over the years, the guideline value of Pidaraiyar Koil Street has seen several revisions. The earliest recorded value was Rs 32 per sq.ft in 2003. This increased to Rs 50 per sq.ft in 2007, marking a significant rise of 56%. The value then surged to Rs 300 per sq.ft in 2012, reflecting a 500% increase. However, it decreased to Rs 201 per sq.ft in 2017, a drop of 33%. Following this, the value rose to Rs 300 per sq.ft in 2023, and finally, it reached Rs 330 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figure for this street in 2002.

From 2003 to 2024, the guideline value has increased by a remarkable 931%. The 2024 figure of Rs 330 per sq.ft aligns with the median value of Rs 330 per sq.ft among the 85 streets in Nanthiambakkam under the Thiruvottiyur SRO.

Guideline values in Nanthiambakkam

In Nanthiambakkam, the guideline values for properties range from Rs 275 to Rs 770 per sq.ft as of 2024. Pidaraiyar Koil Street's guideline value of Rs 330 per sq.ft is at the median of this range. Below are other streets in Nanthiambakkam with their respective guideline values:

• Prakash Avenue: Rs 330 per sq.ft (2024)
• Ragavendra Nagar: Rs 330 per sq.ft (2024)
• Ragavendra Nagar (All Phases): Rs 330 per sq.ft (2024)
• Rajaji Nagar: Rs 330 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 330 per sq.ft (2024)
• Nethiji Nagar Ext.: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Pidaraiyar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total fees to Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pidaraiyar Koil Street?

The Sub Registrar Office that covers Pidaraiyar Koil Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Nanthiambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

When a property is registered, the guideline value ensures a standardized valuation, which helps in maintaining transparency in real estate transactions. It is essential for both buyers and sellers to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Pidaraiyar Koil Street?

The current guideline value of Pidaraiyar Koil Street is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 32 per sq.ft in 2003 to Rs 330 per sq.ft in 2024, showing a significant increase over the years.

What is the land classification for Pidaraiyar Koil Street?

Pidaraiyar Koil Street is classified as Residential Special Type - II.

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

The Sub Registrar Office for Pidaraiyar Koil Street is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for properties in Pidaraiyar Koil Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 23,100.