Guideline Value for PILLAIYAR KOIL STREET

Pillaiyar Koil Street guideline value

The current guideline value of Pillaiyar Koil Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in the Sholinganallur - 1 village, under the Neelankarai SRO, and falls under the Residential Class II Type - II land classification.

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 register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 2,500 per sq.ft. The latest revision in 2024 increased this value to Rs 2,800 per sq.ft, marking a change of 12% from the previous year.

Prior to the 2023 revision, there were no figures available for the aforementioned years, indicating that the street had not undergone any registered valuation during that time. The current guideline value of Rs 2,800 per sq.ft places it above the median value of Rs 2,200 per sq.ft for the 754 streets in Sholinganallur - 1 under the Neelankarai SRO.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, the guideline values range from Rs 1,000 to Rs 8,800 per sq.ft, with the median being Rs 2,200 per sq.ft. Pillaiyar Koil Street's current guideline value is above this median.

• Pillaiyar Koil Street (Near Ponniyamman Koil Street/Bharathi Nagar): Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil 2nd Street: Rs 2,800 per sq.ft (2024)
• Pilliyar Koil Steet (Akkarai): Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil 1st Street: Rs 2,800 per sq.ft (2024)
• Pillaiyar Koil 1st Cross Street: Rs 2,800 per sq.ft (2024)
• P.Nagar 1st Avenue: Rs 2,200 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 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pillaiyar Koil Street?

The Neelankarai Sub Registrar Office covers Pillaiyar Koil Street. The office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor during the registration of property transactions in Sholinganallur - 1. It serves as the minimum value on which stamp duty is calculated, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential for buyers to be aware of the guideline value to ensure they are not overpaying for a property based on its registered value.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street?

The current guideline value of Pillaiyar Koil Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Pillaiyar Koil Street was Rs 2,500 per sq.ft in 2023, and it increased to Rs 2,800 per sq.ft in 2024, marking a 12% increase.

What is the land classification for Pillaiyar Koil Street?

Pillaiyar Koil Street falls under the Residential Class II Type - II land classification.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 at a rate of 7%.