Guideline Value for PILLAIYAR KOIL STREET

Pillaiyar Koil Street guideline value

The current guideline value of Pillaiyar Koil Street in Ramapuram village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - II.

How the guideline value of Pillaiyar Koil Street has changed

The guideline value of Pillaiyar Koil Street has seen several revisions over the years. The 2007 revision recorded a value of Rs 1,600 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012. However, it then decreased by 33% to Rs 1,675 per sq.ft in 2017. The value rose significantly to Rs 2,500 per sq.ft in 2023, and further increased by 10% to the current value of Rs 2,750 per sq.ft in the 2024 revision.

Notably, the register has no figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the current 2024 figure, there has been a total increase of 72% in the guideline value.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that have a guideline value for 2024, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,100 per sq.ft, placing Pillaiyar Koil Street's current guideline value below this median.

• Pillaiyar Koil 2nd Street: Rs 2,750 per sq.ft (2024)
• Pillaiyar Koil 1st Street: Rs 2,750 per sq.ft (2024)
• Pethania Nagar Annex: Rs 2,750 per sq.ft (2024)
• Ponni Amman Nagar: Rs 1,950 per sq.ft (2024)
• Ponnusamy Naicker Street: Rs 1,950 per sq.ft (2024)
• Periyar Road: Rs 6,600 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 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating stamp duty and registration fees, 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 II 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 Ramapuram

The guideline value plays a crucial role during property transactions in Ramapuram. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. The guideline value is set by the government and reflects the minimum price at which a property can be registered.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street?

The current guideline value of Pillaiyar Koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 72% over this period.

What is the land classification for Pillaiyar Koil Street?

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

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office for Pillaiyar Koil Street located?

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.