Guideline Value for PILLAIYAR KOIL STREET 1ST LANE

Pillaiyar Koil Street 1st Lane guideline value

The current guideline value of Pillaiyar Koil Street 1st Lane is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Pillaiyar Koil Street 1st Lane has changed

The guideline value for Pillaiyar Koil Street 1st Lane has seen several revisions over the years. In 2002, the value was Rs 114 per sq.ft, which increased to Rs 127 per sq.ft in 2003, marking an increase of 11%. By 2007, the value rose significantly to Rs 400 per sq.ft, reflecting a 215% increase. The value then saw a substantial jump to Rs 2,000 per sq.ft in 2012, representing a 400% increase from the previous revision. However, it decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The most recent revisions show an increase to Rs 2,000 per sq.ft in 2023, followed by a further increase to Rs 2,200 per sq.ft in 2024, which is a rise of 10%.

Overall, from 2002 to 2024, the guideline value has increased by 1830%. It is important to note that there are no figures available for revisions in years not listed above.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value in this area is Rs 2,530 per sq.ft, placing the 2024 figure for Pillaiyar Koil Street 1st Lane below that median.

• Pillaiyar Koil Street 1st Left Cross: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil Street 2nd Lane: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil Street 2nd Left Cross: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil Street 3rd Cross: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil Street 4th Cross: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil Street 5th Cross: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar Koil Street 1st Lane

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pillaiyar Koil Street 1st Lane?

Pillaiyar Koil Street 1st Lane is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Manapakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in determining the official value of the property, which can influence negotiations between buyers and sellers. It is essential for both parties to be aware of the guideline value to ensure compliance with registration norms.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street 1st Lane?

The current guideline value of Pillaiyar Koil Street 1st Lane is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 114 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1830%.

What are the stamp duty and registration fees for property in Pillaiyar Koil Street 1st Lane?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers this area?

The Chennai South Joint I Sub Registrar Office covers Pillaiyar Koil Street 1st Lane, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for Pillaiyar Koil Street 1st Lane?

The land classification for Pillaiyar Koil Street 1st Lane is Residential Class IV Type - I.