Guideline Value for PILLAIYAR KOIL 2ND CROSS STREET

Pillaiyar Koil 2nd Cross Street guideline value

The current guideline value of Pillaiyar Koil 2nd Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

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

The guideline value for Pillaiyar Koil 2nd Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

From the 2012 revision to the 2024 revision, the overall change is an increase of 10%. The transition from the 2017 revision to the 2023 revision saw a significant increase of 49%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 1,660 per sq.ft, which means that Pillaiyar Koil 2nd Cross Street's 2024 figure is below that median.

• Pillaiyar Koil 1st Cross Street: Rs 1,320 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,320 per sq.ft (2024)
• Perumal Koil Street: Rs 770 per sq.ft (2024)
• Perumal Koil Cross Street: Rs 770 per sq.ft (2024)
• Ponnamalle High Road: Rs 5,500 per sq.ft (2024)
• Ponnammal Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar Koil 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty is calculated at 7%, resulting in Rs 92,400, while the registration fee at 2% amounts to Rs 26,400. Therefore, the total fees together would be Rs 1,18,800. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for accurate calculations.

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

The Sub Registrar Office that covers Pillaiyar Koil 2nd Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Vanagaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that all transactions are documented accurately.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil 2nd Cross Street?

The current guideline value of Pillaiyar Koil 2nd Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the median guideline value in Vanagaram?

The median guideline value for streets in Vanagaram is Rs 1,660 per sq.ft, which is higher than the current value of Pillaiyar Koil 2nd Cross Street.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Pillaiyar Koil 2nd Cross Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located?

The Sub Registrar Office for Pillaiyar Koil 2nd Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.