Guideline Value for PILLAIYAR KOIL STREET 3RD CROSS

Pillaiyar Koil Street 3rd Cross guideline value

The current guideline value of Pillaiyar Koil Street 3rd Cross 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 3rd Cross has changed

The guideline value for Pillaiyar Koil Street 3rd Cross has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was followed by a decrease to Rs 1,340 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, marking a rise of 49%. The latest revision in 2024 raised the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for this street in the revisions for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 guideline value in this area is Rs 2,530 per sq.ft, placing Pillaiyar Koil Street 3rd Cross below that median.

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

Stamp duty and registration fee for property in Pillaiyar Koil Street 3rd Cross

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to 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 duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Pillaiyar Koil Street 3rd Cross?

The Sub Registrar Office covering Pillaiyar Koil Street 3rd Cross 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Manapakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. This ensures that the property is registered at a value that reflects the current market conditions as set by the government.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This helps in maintaining transparency and accountability in property transactions within the region.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street 3rd Cross?

The current guideline value of Pillaiyar Koil Street 3rd Cross 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 from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the other streets in Manapakkam with the same guideline value?

Other streets in Manapakkam that share the same guideline value of Rs 2,200 per sq.ft include Pillaiyar Koil Street 2nd Left Cross, Pillaiyar Koil Street 2nd Lane, Pillaiyar Koil Street 4th Cross, Pillaiyar Koil Street 5th Cross, Pillaiyar Koil Street 1st Left Cross, and Pillaiyar Koil Street 1st Lane.

What is the stamp duty rate for property in Pillaiyar Koil Street 3rd Cross?

The stamp duty rate for property transactions in Pillaiyar Koil Street 3rd Cross is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Pillaiyar Koil Street 3rd Cross?

The Sub Registrar Office for Pillaiyar Koil Street 3rd Cross is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.