Guideline Value for PILLAIYAR KOIL STREET

Pillaiyar Koil Street guideline value

The current guideline value of Pillaiyar Koil Street is Rs 850 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Pillaiyar Koil Street has changed

The guideline value for Pillaiyar Koil Street has seen several revisions over the years. In the 2012 revision, the value was Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 800 per sq.ft in the 2023 revision, marking a 71% increase from the 2017 figure. The current value of Rs 850 per sq.ft from the 2024 revision reflects a 6% increase from the previous year.

There are no figures available for the revisions in the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 21%.

Guideline values in Perumbakkam

Perumbakkam village has a total of 225 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,725 per sq.ft, indicating that the 2024 guideline value for Pillaiyar Koil Street is below this median.

• Pillaiyar Koil Cross Street: Rs 850 per sq.ft (2024)
• Perumpakkam To Solinganallur Main Road: Rs 3,700 per sq.ft (2024)
• Perumbakkam Main Road And 1st -2nd Cross Street: Rs 3,700 per sq.ft (2024)
• Perumal Nagar: Rs 2,725 per sq.ft (2024)
• Poonga Road: Rs 1,600 per sq.ft (2024)
• Poonga Road 1st Street: Rs 1,600 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 850 per sq.ft, the total guideline value amounts to Rs 8,50,000. The stamp duty at 7% would be Rs 59,500, and the registration fee at 2% would be Rs 17,000, bringing the total fees together to Rs 76,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pillaiyar Koil Street?

The Sub Registrar Office covering Pillaiyar Koil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street?

The current guideline value of Pillaiyar Koil Street is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and is currently Rs 850 per sq.ft in 2024.

What is the median guideline value for streets in Perumbakkam?

The median guideline value for streets in Perumbakkam is Rs 2,725 per sq.ft, while Pillaiyar Koil Street's current value is below this median.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 8,50,000. The stamp duty would be Rs 59,500 and the registration fee would be Rs 17,000, totaling Rs 76,500.

Which office handles the registration for Pillaiyar Koil Street?

The Selaiyur Sub Registrar Office handles the registration for Pillaiyar Koil Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.