Guideline Value for PILLAIYAR KOIL STREET

Pillaiyar Koil Street guideline value

The current guideline value of Pillaiyar Koil Street in Vanagaram village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - II.

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 value was Rs 114 per sq.ft, which increased to Rs 131 per sq.ft in 2003, marking a 15% rise. The value then jumped significantly to Rs 500 per sq.ft in 2007, reflecting a 282% increase. By 2012, the value was Rs 1,200 per sq.ft, showing a 140% increase from the previous revision. However, in 2017, it dropped to Rs 804 per sq.ft, a decrease of 33%. The value rose again to Rs 1,200 per sq.ft in 2023, and then to the current value of Rs 1,320 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,058%. There are no figures available for the revisions of the years not mentioned in the register for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,660 per sq.ft, which means Pillaiyar Koil Street's 2024 figure is below that median.

• Pillaiyar Koil 2nd Cross Street: Rs 1,320 per sq.ft (2024)
• Pillaiyar Koil 1st Cross Street: Rs 1,320 per sq.ft (2024)
• Ponnamalle High Road: Rs 5,500 per sq.ft (2024)
• Ponnammal Street: Rs 1,100 per sq.ft (2024)
• Perumal Koil Street: Rs 770 per sq.ft (2024)
• Perumal Koil Cross Street: Rs 770 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and 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.

You can use our stamp duty and registration fee calculator for more information.

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 Vanagaram

The guideline value is a crucial reference point when buying or selling property in Vanagaram. It is used by the registration office to determine the stamp duty and registration fees applicable to the transaction. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value serves to ensure that the transaction is recorded at a fair value, which is essential for legal and financial purposes. Understanding the guideline value can help buyers and sellers navigate the registration process more effectively.

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 114 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 1,058% 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 in Pillaiyar Koil Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,18,800.

What other streets in Vanagaram have similar guideline values?

Other streets in Vanagaram with similar guideline values include Pillaiyar Koil 2nd Cross Street and Pillaiyar Koil 1st Cross Street, both at Rs 1,320 per sq.ft in 2024.