Guideline Value for PILLAIYAR KOIL STREET "POLICE STATION STREET"

Pillaiyar Koil Street "police Station Street" guideline value

The current guideline value of Pillaiyar Koil Street "police Station Street" is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village, under the Villivakkam SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of Pillaiyar Koil Street "police Station Street" has changed

The guideline value for Pillaiyar Koil Street "police Station Street" has undergone several revisions over the years. In 2002, the guideline value was Rs 495 per sq.ft. This increased to Rs 565 per sq.ft in 2003, marking a 14% rise. The value further increased to Rs 950 per sq.ft in 2007, which represented a significant 68% increase. In 2012, the value rose to Rs 5,000 per sq.ft, reflecting a substantial 426% increase from the previous revision. However, in 2017, the value decreased to Rs 3,350 per sq.ft, a drop of 33%.

Continuing from 2017, the guideline value increased to Rs 5,000 per sq.ft in 2023, showing a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 5,500 per sq.ft, which is a 10% increase from the previous year. There are no figures available for revisions prior to 2002 or for any other years not listed in the register.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing Pillaiyar Koil Street "police Station Street" above this median.

• Pillaiyar Koil Street "thangam Colony": Rs 8,200 per sq.ft (2024)
• PIONEER COLONY 7th AVEUNE: Rs 13,200 per sq.ft (2024)
• Ponni Colony: Rs 9,800 per sq.ft (2024)
• PONNI COLONY 25th STREET: Rs 9,800 per sq.ft (2024)
• PONNI COLONY 26th STREET: Rs 9,800 per sq.ft (2024)
• PONNI COLONY 27th STREET: Rs 9,800 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar Koil Street "police Station Street"

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. 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 Street "police Station Street"?

The Sub Registrar Office that covers Pillaiyar Koil Street "police Station Street" is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Villivakkam. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during registration.

When a property is sold, the guideline value is compared to the sale price. The higher of the two figures is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street "police Station Street"?

The current guideline value of Pillaiyar Koil Street "police Station Street" is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 495 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, representing an overall increase of 1011% over the years.

What is the registration fee for properties on Pillaiyar Koil Street "police Station Street"?

The registration fee for properties is calculated based on the guideline value. For example, a property valued at Rs 55,00,000 would incur a registration fee of Rs 1,10,000 at a rate of 2%.

Which office handles registrations for Pillaiyar Koil Street "police Station Street"?

The Villivakkam Sub Registrar Office handles registrations for Pillaiyar Koil Street "police Station Street". It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions. It ensures that the correct amount is paid to the government based on the higher of the guideline value or the sale price.