Guideline Value for PILLAIYAR KOIL STREET 2ND LANE

Pillaiyar Koil Street 2nd Lane guideline value

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

How the guideline value of Pillaiyar Koil Street 2nd Lane has changed

The guideline value for Pillaiyar Koil Street 2nd Lane has seen significant changes 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 11% rise. The following revisions included a substantial increase to Rs 400 per sq.ft in 2007, which represented a 215% change. By 2012, the value was Rs 2,000 per sq.ft, indicating a 400% increase from the previous revision.

From 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a decline of 33%. However, the value surged to Rs 2,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year. There are no figures for revisions in years not listed.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, placing the guideline value of Pillaiyar Koil Street 2nd Lane below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total 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, making the total cost for these fees 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 2nd Lane?

The Sub Registrar Office covering Pillaiyar Koil Street 2nd Lane is 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 in the registration process when buying or selling property in Manapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value helps in calculating the applicable taxes and fees. Buyers and sellers must be aware that the registration fees are based on the higher of the guideline value or the actual sale price, which ensures transparency in property transactions.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street 2nd Lane?

The current guideline value of Pillaiyar Koil Street 2nd 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 increased significantly from Rs 114 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 1830%.

What is the land classification for Pillaiyar Koil Street 2nd Lane?

Pillaiyar Koil Street 2nd Lane is classified as Residential Class IV Type - I.

Where can I find the registration office for this street?

The registration office for Pillaiyar Koil Street 2nd Lane is 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.

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 property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.