Guideline Value for PILLAIYAR KOIL STREET

Pillaiyar Koil Street guideline value

The current guideline value of Pillaiyar Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Pillaiyar Koil Street has changed

The guideline value for Pillaiyar Koil Street has seen significant changes over the years. The earliest recorded value in 2002 was Rs 114 per sq.ft, which increased to Rs 151 per sq.ft in 2003, marking a 32% rise. Following this, the value rose to Rs 400 per sq.ft in 2007, reflecting a substantial increase of 165%. In 2012, the value was recorded at Rs 2,000 per sq.ft, indicating a remarkable 400% increase from the previous revision.

From 2012 to 2017, the guideline value decreased to Rs 1,340 per sq.ft, a decline of 33%. However, this was followed by a significant increase to Rs 2,000 per sq.ft in 2023, and the latest revision in 2024 has set the value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1830%.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value for the area is Rs 2,530 per sq.ft, making the current value of Pillaiyar Koil Street below this median.

• Pillaiyar Koil Street 1st Lane: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil Street 1st Left Cross: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil Street 2nd Lane: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil Street 2nd Left Cross: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil Street 3rd Cross: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil Street 4th Cross: Rs 2,200 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the 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 Manapakkam

The guideline value is an essential factor when buying or selling property in Manapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware of this value to ensure compliance with legal requirements during property transactions.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street?

The current guideline value of Pillaiyar Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 114 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 1830% over this period.

What is the median guideline value in Manapakkam?

The median guideline value for streets in Manapakkam is Rs 2,530 per sq.ft, which means Pillaiyar Koil Street's current value is below this median.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Pillaiyar Koil Street?

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