Guideline Value for PILLAYAR KOIL STREET

Pillayar Koil Street guideline value

The current guideline value of Pillayar Koil Street in Matthur village, under the Thiruvottiyur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Residential Special Type - III land classification.

How the guideline value of Pillayar Koil Street has changed

The guideline value for Pillayar Koil Street has undergone several revisions over the years. In 2002, the value was Rs 72 per sq.ft. This increased to Rs 86 per sq.ft in 2003, marking a 19% rise. The value then saw a significant increase to Rs 200 per sq.ft in 2007, which was a 133% jump. Following this, the 2012 revision set the value at Rs 1,000 per sq.ft, reflecting a 400% increase from the previous figure. However, in 2017, the value dropped to Rs 670 per sq.ft, which was a decrease of 33%. The 2023 revision brought the value back up to Rs 1,000 per sq.ft, and the latest revision in 2024 has set it at Rs 1,100 per sq.ft, a 10% increase from the previous year.

There are no figures available for the years not listed in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1,428%.

Guideline values in Matthur

In Matthur, there are 66 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which is equal to the current value of Pillayar Koil Street.

• Ponniamman Koil Street: Rs 1,100 per sq.ft (2024)
• Ponnuswamy Nagar: Rs 1,100 per sq.ft (2024)
• Perumal Koil Street: Rs 1,100 per sq.ft (2024)
• Pangu Medu: Rs 1,100 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 1,100 per sq.ft (2024)
• Pada Salai Road: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Pillayar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost for these fees Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Pillayar Koil Street?

The Sub Registrar Office that covers Pillayar Koil Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Matthur. It is used to determine the stamp duty and registration fees that need to be paid, which are essential for the legal transfer of property ownership.

When a property is registered, the guideline value serves as a benchmark for calculating these fees. Buyers should be aware that the fees are charged based on the higher of the guideline value or the sale price, ensuring that the appropriate amount is collected during the transaction.

Frequently asked questions

What is the current guideline value of Pillayar Koil Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 72 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 1,428% over this period.

What is the land classification for Pillayar Koil Street?

Pillayar Koil Street is classified as Residential Special Type - III.

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

The Thiruvottiyur Sub Registrar Office, which covers Pillayar Koil Street, is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 77,000.