Guideline Value for PILLAI TAMIZ STREET (N)

Pillai Tamiz Street (N) guideline value

The current guideline value of Pillai Tamiz Street (N) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Sattamangalam village, under the Chengleput Joint II SRO, and falls under the Residential Class I Type - III land classification.

How the guideline value of Pillai Tamiz Street (N) has changed

Over the years, the guideline value of Pillai Tamiz Street (N) has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 600 per sq.ft in the 2023 revision, followed by a further rise to Rs 660 per sq.ft in the 2024 revision, reflecting a 10% increase.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, positioning Pillai Tamiz Street (N) below this median.

• Pethanaidu Street (Ward -17): Rs 660 per sq.ft (2024)
• Pillaiyar Koil Street (Ward -17): Rs 660 per sq.ft (2024)
• Pillaiyar Koil Street (Ward -19): Rs 440 per sq.ft (2024)
• Perumal Koil Street (Ward -17): Rs 660 per sq.ft (2024)
• Pilliyar Koil Street (Ward -2): Rs 440 per sq.ft (2024)
• Pilliyar Koil Street (Ward -3): Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Pillai Tamiz Street (N)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty, charged at 7%, would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200. Together, the total fees would be Rs 59,400. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pillai Tamiz Street (N)?

The Sub Registrar Office covering Pillai Tamiz Street (N) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Sattamangalam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Pillai Tamiz Street (N)?

The current guideline value of Pillai Tamiz Street (N) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Pillai Tamiz Street (N)?

Pillai Tamiz Street (N) falls under the Residential Class I Type - III land classification.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles registrations for Pillai Tamiz Street (N)?

The Chengleput Joint II Sub Registrar Office handles registrations for Pillai Tamiz Street (N), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.