Guideline Value for PILLAIYAR KOIL STREET

Pillaiyar Koil Street guideline value

The current guideline value of Pillaiyar Koil Street is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village and falls under the Manavalanagar SRO, classified as Residential Class I Type - I.

How the guideline value of Pillaiyar Koil Street has changed

The guideline value for Pillaiyar Koil Street has seen several revisions over the years. The 2007 revision set the value at Rs 125 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in the 2012 revision. However, from 2012 to 2017, the value decreased to Rs 670 per sq.ft. The 2023 revision maintained the value at Rs 1,000 per sq.ft, and the same value continues into the 2024 revision, showing no change from the previous year.

Overall, the guideline value has increased by 700% from the 2007 revision to the 2024 revision. The changes from the 2017 to 2023 revision reflect a 49% increase, while the 2012 to 2017 revision shows a decrease of 33%. There are no figures in the register for the years 2002 and 2003 for this street.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median value is Rs 1,000 per sq.ft, which is the same as the guideline value for Pillaiyar Koil Street. Below are the guideline values for other streets in Vengathur:

• Phakirathi Amman Street: Rs 1,300 per sq.ft (2024)
• Ponnappar Street: Rs 1,000 per sq.ft (2024)
• Ponnuswamy Naickar Street: Rs 1,300 per sq.ft (2024)
• Periyar Street: Rs 1,300 per sq.ft (2024)
• POONAMALLEE THIRUVALLUR SALAI (KOSASTHALAI RIVER OVERHEAD BRIDGE to NDP KALYANA MANDABAM): Rs 2,000 per sq.ft (2024)
• Poonthaleer Street: Rs 1,300 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 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can calculate your fees using 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 Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Vengathur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price, as the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the sale price reflects the guideline value to avoid any legal complications. The registration office uses this value to assess the property for taxation purposes, making it a vital component of the buying and selling process.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street?

The current guideline value of Pillaiyar Koil Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, decreased to Rs 670 per sq.ft in 2017, and remained at Rs 1,000 per sq.ft in 2023 and 2024.

What are the stamp duty rates for properties in Vengathur?

The stamp duty rate for properties in Vengathur is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Pillaiyar Koil Street?

The Sub Registrar Office for Pillaiyar Koil Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for properties in Vengathur. It is essential for calculating stamp duty and registration fees during property transactions.