Guideline Value for PILLIAR KOIL STREET

Pilliar Koil Street guideline value

The current guideline value of Pilliar Koil Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village, under the Thiyagaraya nagar SRO, and is classified as Residential Class II Type - I.

How the guideline value of Pilliar Koil Street has changed

The guideline value for Pilliar Koil Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 685 per sq.ft. This increased to Rs 1,094 per sq.ft in 2003, marking a change of +60%. The value further rose to Rs 1,500 per sq.ft in 2007, an increase of +37%. In 2012, the value was recorded at Rs 6,000 per sq.ft, reflecting a significant rise of +300% from the previous revision. However, there was a decrease to Rs 4,020 per sq.ft in 2017, a drop of -33% compared to 2012. The value then increased to Rs 6,000 per sq.ft in 2023, and finally, it reached Rs 6,600 per sq.ft in the 2024 revision, which is a change of +10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +864%. There are no figures available for revisions in the years not listed above for this street.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median guideline value is Rs 6,600 per sq.ft, which is the same as the current value for Pilliar Koil Street.

• Perumal Koil Street: Rs 6,600 per sq.ft (2024)
• Perumal Koil Lane: Rs 5,000 per sq.ft (2024)
• Periyar Street: Rs 6,600 per sq.ft (2024)
• Pushpavathi Ammal Street: Rs 8,800 per sq.ft (2024)
• Patel Street: Rs 8,800 per sq.ft (2024)
• Railway Border 1 Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Pilliar Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pilliar Koil Street?

The Sub Registrar Office that covers Pilliar Koil Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Mambalam. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. The guideline value is set by the Registration Department and is updated periodically to reflect changes in the property market.

When a property is registered, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Pilliar Koil Street?

The current guideline value of Pilliar Koil Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Pilliar Koil Street has changed from Rs 685 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, showing an overall increase of +864% over the years.

What is the classification of land on Pilliar Koil Street?

Pilliar Koil Street is classified as Residential Class II Type - I under the Thiyagaraya nagar SRO.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Tamil Nadu is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Pilliar Koil Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.