Guideline Value for PILLAIYAR KOIL STREET

Pillaiyar Koil Street guideline value

The current guideline value of Pillaiyar Koil Street in Kolathuvancheri village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Pillaiyar Koil Street has changed

The guideline value for Pillaiyar Koil Street has undergone several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a 200% increase. However, from 2012 to 2017, the value dropped to Rs 1,005 per sq.ft, which is a decrease of 33%. The guideline value then rose sharply to Rs 1,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,600 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value of Pillaiyar Koil Street.

• Ponniamman Koil Street: Rs 990 per sq.ft (2024)
• Ponniamman Koil Street 2nd Street: Rs 990 per sq.ft (2024)
• Ponniamman Koil Street 3rd Street: Rs 990 per sq.ft (2024)
• Ponniamman Koil Street Cross Street: Rs 990 per sq.ft (2024)
• Ponniamman Koil Street Ist Colony: Rs 990 per sq.ft (2024)
• Ponniyamman Nagar 1st Street: Rs 990 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 1,650 per sq.ft, the guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling 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 the stamp duty and registration fee calculator for further calculations.

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 Kolathuvancheri

The guideline value is a crucial factor when buying or selling property in Kolathuvancheri, as it determines the minimum value at which a property can be registered. Buyers must ensure that the sale price is equal to or higher than the guideline value to comply with registration norms.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

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 has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 230% over the years.

What is the land classification of Pillaiyar Koil Street?

Pillaiyar Koil Street is classified as Residential Class III Type - I, which indicates its suitability for residential purposes.

What are the stamp duty rates applicable in Kolathuvancheri?

The stamp duty rate applicable in Kolathuvancheri is 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

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.