Guideline Value for PILLAIYAR KOIL STREET

Pillaiyar Koil Street guideline value

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

How the guideline value of Pillaiyar Koil Street has changed

Since the early 2000s, the guideline value of Pillaiyar Koil Street has seen significant changes. In 2002, the guideline value was Rs 87 per sq.ft, which increased to Rs 125 per sq.ft in 2003, marking a 44% rise. The value continued to climb, reaching Rs 500 per sq.ft in 2007, a substantial increase of 300%. By 2012, the value was Rs 1,500 per sq.ft, reflecting a 200% increase from the previous revision. However, it dropped to Rs 1,005 per sq.ft in 2017, a decrease of 33%. The 2023 revision saw the value rise again to Rs 1,500 per sq.ft, followed by a further increase to the current value of Rs 1,650 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 1,797%. There are no figures available for the revisions from the years not listed in the register for this street.

Guideline values in Perumalagaram

In Perumalagaram, there are 74 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 825 to Rs 7,920 per sq.ft. The median value in this area is Rs 3,190 per sq.ft, placing Pillaiyar Koil Street's 2024 figure below that median.

• Perumal Street: Rs 3,190 per sq.ft (2024)
• Perumallagaram Mayana Road: Rs 825 per sq.ft (2024)
• Perumal Koil Street: Rs 1,650 per sq.ft (2024)
• Perumal Koil 1st Cross & 2nd Cross: Rs 1,650 per sq.ft (2024)
• Perumalargaram Rajan Kuppam Cross Street: Rs 825 per sq.ft (2024)
• Perumalagaram Rajan Kuppam Road: Rs 825 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 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, totaling Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or 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 II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees 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 significantly, from Rs 87 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 1,797%.

What is the classification of land on Pillaiyar Koil Street?

Pillaiyar Koil Street is classified as Residential Class III Type - I under the Chennai South Joint II SRO.

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

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,48,500, based on the current guideline 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.