Guideline Value for PILLAIYAR KOIL STREET

Pillaiyar Koil Street guideline value

The current guideline value of Pillaiyar Koil Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Karambakkam 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 has changed

The guideline value for Pillaiyar Koil Street has seen several revisions over the years. In 2002, the guideline value was Rs 315 per sq.ft. This increased to Rs 362 per sq.ft in 2003, marking a change of +15%. The value continued to rise significantly, reaching Rs 800 per sq.ft in 2007, which was an increase of +121%. In 2012, the guideline value was revised to Rs 1,500 per sq.ft, reflecting a decrease of -33% from the previous revision. The value then remained at Rs 1,500 per sq.ft until 2017, when it increased to Rs 1,005 per sq.ft.

In 2023, the guideline value was set at Rs 1,500 per sq.ft, and in the latest revision in 2024, it increased to Rs 1,650 per sq.ft, which is a change of +10%. Overall, from 2002 to 2024, the guideline value has increased by +424%.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that have a guideline value for 2024, ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median guideline value in the village is Rs 1,930 per sq.ft, placing Pillaiyar Koil Street's 2024 figure below that median.

• Ponniamman Avenue: Rs 1,930 per sq.ft (2024)
• Ponni Nagar: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Agathiyar Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Athiyaman Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Avvaiyar Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Bharathi Street: Rs 1,930 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost together to Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Karambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the registration fees and stamp duties are calculated based on this guideline value.

When a property transaction occurs, the guideline value ensures that the property is not undervalued for registration purposes. This helps maintain transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street?

The current guideline value of Pillaiyar Koil Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How often does the guideline value get revised?

The guideline value is revised periodically, with the most recent revision occurring in 2024. Previous revisions took place in 2023, 2017, 2012, 2007, 2003, and 2002.

What was the guideline value in 2017?

In 2017, the guideline value for Pillaiyar Koil Street was Rs 1,005 per sq.ft.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the minimum value for registration and calculating applicable stamp duties and registration fees based on this value.

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.