Guideline Value for PILLAIYAR KOIL (METTUKUPPAM) 1ST CROSS STREET

Pillaiyar Koil (Mettukuppam) 1st Cross Street guideline value

The current guideline value of Pillaiyar Koil (Mettukuppam) 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village under the Neelankarai SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Pillaiyar Koil (Mettukuppam) 1st Cross Street has changed

The guideline value for Pillaiyar Koil (Mettukuppam) 1st Cross Street has seen several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. However, from 2017 to 2023, it rose significantly to Rs 3,000 per sq.ft, and the latest revision in 2024 set the value at Rs 3,300 per sq.ft. The changes between these revisions include a decrease of 33% from 2012 to 2017, followed by an increase of 49% from 2017 to 2023, and a further increase of 10% from 2023 to 2024.

The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value among these streets is Rs 3,300 per sq.ft, which is equal to the 2024 guideline value of Pillaiyar Koil (Mettukuppam) 1st Cross Street.

• Pillaiyar Koil (Mettukuppam) 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Pillaiyar Koil (Mettukuppam) 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Pillaiyar Koil (Mettukuppam) 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Pillaiyar Koil (Mettukuppam) 5th Cross Street: Rs 3,300 per sq.ft (2024)
• Pillaiyar Koil 2nd Lane (Mettukuppam): Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar Koil (Mettukuppam) 1st Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pillaiyar Koil (Mettukuppam) 1st Cross Street?

The Sub Registrar Office that covers Pillaiyar Koil (Mettukuppam) 1st Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Okkiyamthuraipakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair value as per the government regulations.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership. Buyers should always verify the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil (Mettukuppam) 1st Cross Street?

The current guideline value of Pillaiyar Koil (Mettukuppam) 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for this street?

Pillaiyar Koil (Mettukuppam) 1st Cross Street falls under the Residential Class II Type - I land classification.

What are the other streets in Okkiyamthuraipakkam?

Other streets in Okkiyamthuraipakkam include Pillaiyar Koil (Mettukuppam) 2nd Cross Street, 3rd Cross Street, 4th Cross Street, and 5th Cross Street, all valued at Rs 3,300 per sq.ft in 2024.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at Rs 3,300 per sq.ft would incur a stamp duty of Rs 2,31,000.