Guideline Value for PILLAIYAR KOIL 1ST CROSS STREET

Pillaiyar Koil 1st Cross Street guideline value

The current guideline value of Pillaiyar Koil 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village under the Neelankarai SRO, classified as Residential Class IV Type - I.

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

The guideline value for Pillaiyar Koil 1st Cross Street has undergone several revisions over the years. In 2002, the value was Rs 223 per sq.ft, which increased to Rs 350 per sq.ft in 2003, marking a change of +57%. The value then rose significantly to Rs 800 per sq.ft in 2007, an increase of +129%. In 2012, it reached Rs 2,000 per sq.ft, reflecting a substantial rise of +150%. However, it dropped to Rs 1,340 per sq.ft in 2017, a decrease of -33%. The value increased again to Rs 2,000 per sq.ft in 2023, and finally to the current Rs 2,200 per sq.ft in 2024, which is a change of +10%.

There are no figures available for the years not listed in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by +887%.

Guideline values in Perungudi

In Perungudi, there are 249 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, placing Pillaiyar Koil 1st Cross Street's 2024 figure below that median.

• Pillaiyar Koil 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil Main Road: Rs 3,900 per sq.ft (2024)
• Perunthalaivar Kamaraj Nagar: Rs 3,300 per sq.ft (2024)
• Pillayar Koil II Street: Rs 2,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 1st Cross Street?

The Sub Registrar Office that covers Pillaiyar Koil 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 further assistance.

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

The guideline value plays a crucial role during the registration of property in Perungudi. It is used to determine the stamp duty and registration fees that a buyer must pay, ensuring that the transaction is officially recorded and taxed appropriately.

When purchasing property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

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

The current guideline value of Pillaiyar Koil 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 223 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +887% over the years.

What are the other streets in Perungudi with the same guideline value?

Other streets in Perungudi, such as Pillaiyar Koil 2nd Cross Street, Pillaiyar Koil 3rd Cross Street, and Pillaiyar Koil 4th Cross Street, also have a guideline value of Rs 2,200 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, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.

Where can I find the Sub Registrar Office for Pillaiyar Koil 1st Cross Street?

The Neelankarai Sub Registrar Office covers Pillaiyar Koil 1st Cross Street and is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.