Guideline Value for PILLAIYAR KOIL STREET (KANCHINAKUPPAM)

Pillaiyar Koil Street (Kanchinakuppam) guideline value

The current guideline value of Pillaiyar Koil Street (Kanchinakuppam) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Korattur village and falls under the Villivakkam SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of Pillaiyar Koil Street (Kanchinakuppam) has changed

The guideline value for Pillaiyar Koil Street has seen several revisions over the years. The 2007 revision set the value at Rs 250 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, this figure dropped to Rs 1,005 per sq.ft in 2017, marking a decrease of 33%. The value then rose sharply to Rs 1,500 per sq.ft in 2023, and further increased to the current rate of Rs 1,600 per sq.ft in 2024, reflecting a 7% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 540%. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. Pillaiyar Koil Street's current guideline value is below this median.

• Pillaiyar Koil Street: Rs 2,100 per sq.ft (2024)
• P.M.A Avenue: Rs 1,600 per sq.ft (2024)
• Perumal Nagar: Rs 1,600 per sq.ft (2024)
• Perumal Koil Street (Madhanakuppam): Rs 1,300 per sq.ft (2024)
• PERUMAL KOIL STREET (AGRAHARAM) 2nd STREET: Rs 2,500 per sq.ft (2024)
• PERUMAL KOIL STREET (AGRAHARAM) 1st STREET: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar Koil Street (Kanchinakuppam)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total fees Rs 1,44,000. 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 detailed calculations.

Which Sub Registrar Office covers Pillaiyar Koil Street (Kanchinakuppam)?

The Sub Registrar Office that covers Pillaiyar Koil Street (Kanchinakuppam) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Korattur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both the buyer and seller adhere to the legal requirements set by the state.

When a property is bought or sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street?

The current guideline value of Pillaiyar Koil Street (Kanchinakuppam) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, marking a significant increase of 540% overall.

What is the registration office for Pillaiyar Koil Street?

The registration office for Pillaiyar Koil Street (Kanchinakuppam) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the stamp duty and registration fees for a property here?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Where can I find more information about guideline values in Korattur?

More information about guideline values in Korattur can be found in the registration department's guideline value register (TNReginet), which lists values for various streets in the area.