Guideline Value for PILLAIYAR KOIL STREET

Pillaiyar Koil Street guideline value

The current guideline value of Pillaiyar Koil Street is Rs 2,100 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the Villivakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class III 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. In 2007, the guideline value was Rs 250 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a remarkable increase of 700%. However, this value decreased to Rs 1,340 per sq.ft in the 2017 revision, a drop of 33%. The most recent revision in 2024 set the guideline value at Rs 2,100 per sq.ft, reflecting an increase of 57% from the 2017 figure.

It is important to note that the register has no figures for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 740%.

Guideline values in Korattur

In Korattur, there are a total of 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value in this area is Rs 2,500 per sq.ft, which means that the 2024 figure for Pillaiyar Koil Street is below that median.

• Pillaiyar Koil Street (Kanchinakuppam): Rs 1,600 per sq.ft (2024)
• P.M.A Avenue: Rs 1,600 per sq.ft (2024)
• Perumal Nagar: Rs 1,600 per sq.ft (2024)
• Perumal Koil Street (Madhanakuppam): Rs 1,300 per sq.ft (2024)
• PERUMAL KOIL STREET (AGRAHARAM) 2nd STREET: Rs 2,500 per sq.ft (2024)
• PERUMAL KOIL STREET (AGRAHARAM) 1st STREET: Rs 2,500 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 2,100 per sq.ft, the total guideline value amounts to Rs 21,00,000. The stamp duty at 7% would be Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, bringing the total to Rs 1,89,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, 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 Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the registration process is transparent and adheres to the established rates set by the Registration Department.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street?

The current guideline value of Pillaiyar Koil Street is Rs 2,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 250 per sq.ft to Rs 2,100 per sq.ft in 2024, marking an overall increase of 740%.

What is the land classification for Pillaiyar Koil Street?

The land classification for Pillaiyar Koil Street is Residential Class III Type - I.

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

The Villivakkam Sub Registrar Office covers Pillaiyar Koil Street and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 21,00,000, the stamp duty would be Rs 1,47,000 at a rate of 7%.