Guideline Value for PILLAIYAR KOIL STREET (MOOTAIKARAN CHAVADI)

Pillaiyar Koil Street (Mootaikaran Chavadi) guideline value

The current guideline value of Pillaiyar Koil Street (Mootaikaran Chavadi) is Rs 3,900 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 I Type - II.

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

Over the years, the guideline value for Pillaiyar Koil Street has seen several revisions. The 2012 revision set the value at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 3,500 per sq.ft, and the latest revision in 2024 brought it to Rs 3,900 per sq.ft, marking an increase of 11% from the previous year.

In summary, the changes in guideline value from 2012 to 2024 show an overall increase of 11%. The 2023 to 2024 revision saw an 11% increase, while the jump from 2017 to 2023 was a notable 49%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Pillaiyar Koil Street (Mootaikaran Chavadi) above this median.

• Pillaiyar Koil Street (Near O.M.R. & V.A.O.Office): Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil Street (Near Selvakumar Avenue): Rs 2,800 per sq.ft (2024)
• Pillaiyar Koil Street (Radial Road To Seevaram): Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil Street & Road (Mettukuppam): Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 4,400 per sq.ft (2024)
• Pilliyar Koil 1st Lane (Mettukuppam): Rs 2,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that 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 information.

Which Sub Registrar Office covers Pillaiyar Koil Street (Mootaikaran Chavadi)?

The Sub Registrar Office that covers Pillaiyar Koil Street (Mootaikaran Chavadi) 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 more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Okkiyamthuraipakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded at a value that reflects the current market conditions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used for determining the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street (Mootaikaran Chavadi)?

The current guideline value of Pillaiyar Koil Street (Mootaikaran Chavadi) is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024.

What is the land classification of Pillaiyar Koil Street (Mootaikaran Chavadi)?

Pillaiyar Koil Street (Mootaikaran Chavadi) is classified as Residential Class I Type - II.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Pillaiyar Koil Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot valued at Rs 3,900 per sq.ft would incur a total guideline value of Rs 39,00,000, leading to specific stamp duty and registration fees.