Guideline Value for PILLAIYAR KOIL STREET (PART)

Pillaiyar Koil Street (Part) guideline value

The current guideline value of Pillaiyar Koil Street (Part) in Nanmangalam village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

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

The guideline value for Pillaiyar Koil Street (Part) has seen several revisions over the years. In 2012, the value was Rs 2,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,675 per sq.ft, marking a decline of 33%. However, the value rebounded significantly to Rs 2,500 per sq.ft in 2023, followed by a further increase to Rs 2,750 per sq.ft in the 2024 revision, representing a 10% rise from the previous year. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the value increased by 49%, and when considering the overall change from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, which is equal to the current guideline value of Pillaiyar Koil Street (Part).

• Pilliyar Koil Street: Rs 2,750 per sq.ft (2024)
• Perumal Salai: Rs 2,750 per sq.ft (2024)
• Perumal Nagar: Rs 3,300 per sq.ft (2024)
• Ponniamman Koil 1 To 3 Streets: Rs 2,750 per sq.ft (2024)
• Perumal Koil Street: Rs 2,750 per sq.ft (2024)
• Ponniyamman Koil Street: Rs 2,750 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. 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 information.

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

The Sub Registrar Office that covers Pillaiyar Koil Street (Part) is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Nanmangalam. It serves as the basis for calculating the stamp duty and registration fees that are required during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements during the registration process.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures that the transaction is documented accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

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

The current guideline value of Pillaiyar Koil Street (Part) is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

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

Pillaiyar Koil Street (Part) is classified as Residential Class I Type - I.

Which Sub Registrar Office covers this street?

The Pallavaram Sub Registrar Office covers Pillaiyar Koil Street (Part), located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current guideline value, the stamp duty would amount to Rs 1,92,500.