Guideline Value for PILLAIYAR KOIL STREET

Pillaiyar Koil Street guideline value

The current guideline value of Pillaiyar Koil Street in Nesapakkam village, under the Virugambakkam SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of Pillaiyar Koil Street has changed

The guideline value for Pillaiyar Koil Street has seen several revisions over the years. In 2002, the guideline value was Rs 492 per sq.ft, which increased to Rs 541 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,100 per sq.ft in 2007, marking an increase of 103%. The 2012 revision saw the value remain at Rs 4,000 per sq.ft, which was a decrease of 33% from the previous figure. In 2017, the guideline value increased to Rs 2,680 per sq.ft, reflecting a 49% rise. The most recent revision in 2023 set the guideline value at Rs 4,000 per sq.ft, before reaching the current rate of Rs 4,400 per sq.ft in 2024, a 10% increase.

Guideline values in Nesapakkam

In Nesapakkam, there are 148 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,150 per sq.ft, with a median value of Rs 3,300 per sq.ft. Pillaiyar Koil Street's 2024 figure is above this median.

• Pillaiyar Koil Street Extension: Rs 3,850 per sq.ft (2024)
• Pillaiyar Koil 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Pillaiyar Koil 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Ponnammal Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Ponnammal Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Ponnammal Nagar Main Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would amount to Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pillaiyar Koil Street?

The Sub Registrar Office that covers Pillaiyar Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial figure used during the registration of property transactions in Nesapakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street?

The current guideline value of Pillaiyar Koil Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 492 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 794% over the years.

What is the land classification for Pillaiyar Koil Street?

The land classification for Pillaiyar Koil Street is Mixed Special Type - I, which indicates the type of development and usage permitted in the area.

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

The Sub Registrar Office for Pillaiyar Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

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

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at a rate of 7%.