Guideline Value for PILLIYAR KOIL STREET (WARD -1)

Pilliyar Koil Street (Ward -1) guideline value

The current guideline value of Pilliyar Koil Street (Ward -1) is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Konathi village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Pilliyar Koil Street (Ward -1) has changed

The guideline value for Pilliyar Koil Street has seen several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft. However, this figure decreased to Rs 469 per sq.ft in the 2017 revision. In 2023, the value increased to Rs 700 per sq.ft, and as of the 2024 revision, it stands at Rs 770 per sq.ft, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The significant change occurred between 2017 and 2023, where the value rose by 49% from Rs 469 per sq.ft to Rs 700 per sq.ft.

Guideline values in Konathi

In Konathi village, there are 131 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, which is equal to the 2024 figure for Pilliyar Koil Street (Ward -1).

• Pillaiyar Koil Street (Ward-20): Rs 1,650 per sq.ft (2024)
• Pillaiyar Koil Street Thailavaram (Ward-21): Rs 660 per sq.ft (2024)
• Perumal Koil Street (Ward-20): Rs 1,650 per sq.ft (2024)
• Periyar Street (Ward-20): Rs 770 per sq.ft (2024)
• Psa Nagar (Ward -1): Rs 880 per sq.ft (2024)
• P.V.N. Avenue Thailavaram (Ward-21): Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Pilliyar Koil Street (Ward -1)

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. 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 information.

Which Sub Registrar Office covers Pilliyar Koil Street (Ward -1)?

The Sub Registrar Office that covers Pilliyar Koil Street (Ward -1) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Konathi. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property. Buyers and sellers must ensure that the sale price is in line with the guideline value to avoid discrepancies during registration.

When a property is sold or purchased, the guideline value helps in assessing the fair value of the property for taxation purposes. It is essential for both parties to be aware of the current guideline value to ensure a smooth registration process.

Frequently asked questions

What is the current guideline value of Pilliyar Koil Street (Ward -1)?

The current guideline value of Pilliyar Koil Street (Ward -1) is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification for Pilliyar Koil Street (Ward -1)?

The land classification for Pilliyar Koil Street (Ward -1) is Residential Class I Type - III.

Where can I find the Sub Registrar Office for Pilliyar Koil Street (Ward -1)?

The Sub Registrar Office for Pilliyar Koil Street (Ward -1) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Pilliyar Koil Street (Ward -1)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 770 per sq.ft, the stamp duty would be Rs 53,900.