Guideline Value for PILLAIYAR KOIL STREET (NEAR SELVAKUMAR AVENUE)

Pillaiyar Koil Street (Near Selvakumar Avenue) guideline value

The current guideline value of Pillaiyar Koil Street (Near Selvakumar Avenue) is Rs 2,800 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 II Type - II.

How the guideline value of Pillaiyar Koil Street (Near Selvakumar Avenue) has changed

The guideline value for Pillaiyar Koil Street has undergone several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 400% rise. However, this value decreased to Rs 1,675 per sq.ft in 2017, a decline of 33%. The value then saw a substantial increase to Rs 2,500 per sq.ft in 2023, followed by another increase to Rs 2,800 per sq.ft in 2024, reflecting a 12% rise.

From 2017 to 2023, the increase was 49%, bringing the value to Rs 2,500 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 460%. It is important to note that the register has no figures for the years 2002 and 2003 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 for these streets is Rs 3,300 per sq.ft, placing Pillaiyar Koil Street (Near Selvakumar Avenue) below this median.

• Pillaiyar Koil Street (Near O.M.R. & V.A.O.Office): Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil Street (Radial Road To Seevaram): Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil Street (Mootaikaran Chavadi): Rs 3,900 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 (Near Selvakumar Avenue)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000. Together, the total cost for these fees would be Rs 2,52,000. It is important to note that the 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 more details.

Which Sub Registrar Office covers Pillaiyar Koil Street (Near Selvakumar Avenue)?

The Sub Registrar Office that covers Pillaiyar Koil Street (Near Selvakumar Avenue) 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 information.

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

The guideline value is an essential factor in the property registration process in Okkiyamthuraipakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, which means that understanding the guideline value is crucial for both buyers and sellers.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street (Near Selvakumar Avenue)?

The current guideline value of Pillaiyar Koil Street (Near Selvakumar Avenue) is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 500 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 460% over the years.

What are the other streets in Okkiyamthuraipakkam and their guideline values?

Other streets in Okkiyamthuraipakkam include Pillaiyar Koil Street (Near O.M.R. & V.A.O.Office) and Pillaiyar Koil Street (Radial Road To Seevaram), both valued at Rs 4,400 per sq.ft in 2024.

What fees are associated with buying property in Pillaiyar Koil Street?

When buying property in Pillaiyar Koil Street, the stamp duty is 7% of the guideline value, and the registration fee is 2%, which are calculated based on the higher of the guideline value or the sale price.

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

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