Guideline Value for PILLAIYAR KOIL (METTUKUPPAM) 2ND CROSS STREET

Pillaiyar Koil (Mettukuppam) 2nd Cross Street guideline value

The current guideline value for Pillaiyar Koil (Mettukuppam) 2nd 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 is classified as Residential Class II Type - I.

How the guideline value of Pillaiyar Koil (Mettukuppam) 2nd Cross Street has changed

The guideline value for this street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase in the following revisions, reaching Rs 3,000 per sq.ft in 2023, which represented a 49% increase from the 2017 figure. The most recent revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for Pillaiyar Koil (Mettukuppam) 2nd Cross Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the 2024 figure for Pillaiyar Koil (Mettukuppam) 2nd Cross Street.

• Pillaiyar Koil (Mettukuppam) 1st 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) 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total 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 fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Pillaiyar Koil (Mettukuppam) 2nd Cross Street?

The Pillaiyar Koil (Mettukuppam) 2nd Cross Street is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Okkiyamthuraipakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for both parties. It is essential to understand that the actual sale price may differ from the guideline value, but the registration fees will be based on the higher of the two amounts.

Frequently asked questions

What is the current guideline value for Pillaiyar Koil (Mettukuppam) 2nd Cross Street?

The current guideline value for Pillaiyar Koil (Mettukuppam) 2nd 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 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) 2nd Cross Street is classified as Residential Class II Type - I.

Which Sub Registrar Office covers this area?

The Neelankarai Sub Registrar Office covers Pillaiyar Koil (Mettukuppam) 2nd Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 2,97,000.