Guideline Value for PILLIYAR KOIL STREET (WARD -2)

Pilliyar Koil Street (Ward -2) guideline value

The current guideline value of Pilliyar Koil Street (Ward -2) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai 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 -2) has changed

The guideline value for Pilliyar Koil Street (Ward -2) has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then decreased to Rs 402 per sq.ft in the 2017 revision. Following this, the value increased to Rs 600 per sq.ft in 2023, and finally, it rose to Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figure for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

In Ninna Karai, there are 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, placing Pilliyar Koil Street (Ward -2) below this median.

• Pilliyar Koil Street (Ward -3): Rs 990 per sq.ft (2024)
• Poigaialwar Street (Ward -5): Rs 1,321 per sq.ft (2024)
• Pillaiyar Koil Street (Ward -19): Rs 660 per sq.ft (2024)
• Ponmanachemmal Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Pillaiyar Koil Street (Ward -17): Rs 660 per sq.ft (2024)
• Ponmudiar Street (Ward -6): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Pilliyar Koil Street (Ward -2)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total costs to Rs 59,400. 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 details.

Which Sub Registrar Office covers Pilliyar Koil Street (Ward -2)?

The Sub Registrar Office that covers Pilliyar Koil Street (Ward -2) 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 information.

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

The guideline value is a crucial factor when registering property transactions in Ninna Karai. It serves as a benchmark for determining the minimum value for which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. Buyers and sellers should be aware that the final registration costs will depend on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Pilliyar Koil Street (Ward -2)?

The current guideline value of Pilliyar Koil Street (Ward -2) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024. This represents a 10% increase from 2023 to 2024.

What is the land classification for Pilliyar Koil Street (Ward -2)?

Pilliyar Koil Street (Ward -2) is classified as Residential Class I Type - III. This classification is essential for understanding the zoning and permissible uses of the land.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Pilliyar Koil Street (Ward -2)?

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 the current rate, the stamp duty would be Rs 46,200.