Guideline Value for PILLAIYAR KOIL STREET

Pillaiyar Koil Street guideline value

The current guideline value of Pillaiyar Koil Street is Rs 175 per sq.ft, effective from 1 July 2024. This street is located in Salavakkam village, under the Salavakkam SRO, and is classified as Residential Class I Type - II.

How the guideline value of Pillaiyar Koil Street has changed

The guideline value for Pillaiyar Koil Street has seen several revisions over the years. The 2007 revision set the value at Rs 75 per sq.ft, which increased to Rs 175 per sq.ft in 2012. In the 2017 revision, the value was adjusted to Rs 117 per sq.ft, reflecting a decrease of 33% from the previous figure. The 2023 revision maintained the value at Rs 175 per sq.ft, and the same value continues into the 2024 revision, showing no change.

From 2017 to 2023, there was a significant increase of 50%. Overall, from 2007 to 2024, the guideline value has increased by 133%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Salavakkam

In Salavakkam village, there are 38 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 250 per sq.ft, with a median value of Rs 150 per sq.ft. Pillaiyar Koil Street's 2024 figure of Rs 175 per sq.ft is above this median.

• Perumal Koil Street: Rs 175 per sq.ft (2024)
• Panchanga Iyer Street: Rs 175 per sq.ft (2024)
• Pambaikara Street: Rs 102 per sq.ft (2024)
• Padasalai Street: Rs 100 per sq.ft (2024)
• Reddy Street: Rs 175 per sq.ft (2024)
• Nakshatra Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 175 per sq.ft, the total guideline value would be Rs 1,75,000. The stamp duty at 7% would amount to Rs 12,250, and the registration fee at 2% would be Rs 3,500, bringing the total fees to Rs 15,750. 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?

The Sub Registrar Office that covers Pillaiyar Koil Street is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Salavakkam. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the actual sale price. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street?

The current guideline value of Pillaiyar Koil Street is Rs 175 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2007 to Rs 175 per sq.ft in 2012, then decreased to Rs 117 per sq.ft in 2017, and has remained at Rs 175 per sq.ft from 2017 to 2024.

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

For a property valued at Rs 1,75,000, the stamp duty would be Rs 12,250, and the registration fee would be Rs 3,500, totaling Rs 15,750.

Which office handles registrations for Pillaiyar Koil Street?

The Salavakkam Sub Registrar Office is responsible for registrations in Pillaiyar Koil Street, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value for properties and is essential for calculating stamp duty and registration fees during property transactions.