Guideline Value for PILLAIYAR KOIL STREET

Pillaiyar Koil Street guideline value

The current guideline value of Pillaiyar Koil Street is Rs 3,080 per sq.ft. This street is located in Ekkaduthangal village, under the Chennai South Joint I SRO, and falls under the Residential Class IV Type - I land classification.

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 2002, the guideline value was Rs 421 per sq.ft, which increased to Rs 486 per sq.ft in 2003. The value rose significantly to Rs 1,000 per sq.ft in 2007, followed by a substantial increase to Rs 2,800 per sq.ft in 2012. However, it decreased to Rs 1,876 per sq.ft in 2017. The value then increased to Rs 2,800 per sq.ft in 2023, before reaching the current rate of Rs 3,080 per sq.ft in 2024.

The changes between these revisions indicate fluctuations in the guideline value. From 2002 to 2003, the increase was 15%. The value then surged by 106% from 2003 to 2007. The jump from 2007 to 2012 was 180%, followed by a decrease of 33% from 2012 to 2017. The value increased by 49% from 2017 to 2023, and finally, there was a 10% rise from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 632%.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft, with a median value of Rs 4,620 per sq.ft. Pillaiyar Koil Street's 2024 figure is below this median.

• Pillaiyar Koil 6th Street: Rs 3,080 per sq.ft (2024)
• Pillaiyar Koil 5th Street: Rs 3,080 per sq.ft (2024)
• Pillaiyar Koil 4th Street: Rs 3,080 per sq.ft (2024)
• Pillaiyar Koil 4th Cross Street: Rs 3,080 per sq.ft (2024)
• Pillaiyar Koil 3rd St: Rs 3,080 per sq.ft (2024)
• Pillaiyar Koil 2nd St: Rs 3,080 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 rate of Rs 3,080 per sq.ft, the guideline value amounts to Rs 30,80,000. The stamp duty at 7% would be Rs 2,15,600, and the registration fee at 2% would be Rs 61,600, totaling Rs 2,77,200. It is important to note that the duty is charged on the higher of the guideline value and 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 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 Ekkaduthangal

The guideline value is a critical factor in the registration process when buying or selling property in Ekkaduthangal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. 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 3,080 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 421 per sq.ft in 2002 to Rs 3,080 per sq.ft in 2024, reflecting an overall increase of 632% over this period.

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

Other streets in Ekkaduthangal with the same guideline value of Rs 3,080 per sq.ft include Pillaiyar Koil 6th Street, Pillaiyar Koil 5th Street, Pillaiyar Koil 4th Street, Pillaiyar Koil 4th Cross Street, Pillaiyar Koil 3rd St, and Pillaiyar Koil 2nd St.

What is the registration fee for a property on Pillaiyar Koil Street?

The registration fee for a property is calculated at 2% of the guideline value. For a property valued at Rs 30,80,000, the registration fee would be Rs 61,600.

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

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