Guideline Value for PILLAYAR KOIL II STREET

Pillayar Koil II Street guideline value

The current guideline value of Pillayar Koil II Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village and falls under the Neelankarai SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Pillayar Koil II Street has changed

The guideline value for Pillayar Koil II Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 2,000 per sq.ft. This figure decreased to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase to Rs 2,000 per sq.ft in the 2023 revision, followed by another rise to Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

In summary, the guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 10% over this period. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, indicating that the 2024 guideline value for Pillayar Koil II Street is below this median.

• Pillaiyar Koil Main Road: Rs 3,900 per sq.ft (2024)
• Pillaiyar Koil 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Pillayar Koil 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Pillayar Koil 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Perunthalaivar Kamaraj Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pillayar Koil II Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty, calculated at 7%, would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total fees would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pillayar Koil II Street?

The Sub Registrar Office that covers Pillayar Koil II Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid to the government.

When a property is sold, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Pillayar Koil II Street?

The current guideline value of Pillayar Koil II Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, with several revisions in between, including a notable increase of 49% from 2017 to 2023.

What is the land classification for Pillayar Koil II Street?

The land classification for Pillayar Koil II Street is Residential Class IV Type - I.

Where can I find the registration office for Pillayar Koil II Street?

The registration office for Pillayar Koil II Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Pillayar Koil II Street?

Stamp duty for properties in Pillayar Koil II Street is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000, leading to a stamp duty of Rs 1,54,000.