Guideline Value for PILLAIYAR KOIL STREET

Pillaiyar Koil Street guideline value

The current guideline value of Pillaiyar Koil Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Thelliyaragaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II 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 value was Rs 150 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a remarkable rise of 700%. However, it then decreased to Rs 804 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase to Rs 1,200 per sq.ft in 2023, followed by a further increase to Rs 1,320 per sq.ft in 2024, which represents a 10% rise from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 780%. The revisions reflect significant changes in the property landscape, with the most notable jumps occurring between 2007 and 2012, and from 2017 to 2024.

Guideline values in Thelliyaragaram

Thelliyaragaram village has a range of guideline values across its 16 streets under the Chennai South Joint I SRO, with figures ranging from Rs 770 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 1,210 per sq.ft, placing Pillaiyar Koil Street's 2024 figure above that median.

• Ponniamman Koil Street: Rs 1,320 per sq.ft (2024)
• Poonamallee High Road: Rs 3,300 per sq.ft (2024)
• Ramya Nagar: Rs 1,100 per sq.ft (2024)
• Mayana Salai: Rs 1,100 per sq.ft (2024)
• Taj Nagar: Rs 1,100 per sq.ft (2024)
• Thiruveethiamman Koil Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar Koil Street

For a plot of 1,000 sq.ft at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. It is important to note that the 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 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 Thelliyaragaram

The guideline value plays a crucial role in the registration process when buying or selling property in Thelliyaragaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to calculate the applicable fees. 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 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, with significant increases and decreases over the years.

What is the registration office for Pillaiyar Koil Street?

The registration office for 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.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, on a 1,000 sq.ft plot, the total fees would amount to Rs 1,18,800.

Where can I find more information about stamp duty and registration fees?

For more information, you can use the stamp duty and registration fee calculator available online.