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 440 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - II.

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 earliest recorded figure is from 2012, where the value was Rs 400 per sq.ft. This was followed by a decrease to Rs 268 per sq.ft in 2017, marking a decline of 33%. In 2023, the value increased to Rs 400 per sq.ft, and then it rose again to Rs 440 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 400 per sq.ft. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, indicating that the guideline value for Pilliyar Koil Street (Ward -2) is below this median.

• Pilliyar Koil Street (Ward -3): Rs 990 per sq.ft (2024)
• Poigaialwar Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Pillaiyar Koil Street (Ward -19): Rs 440 per sq.ft (2024)
• Ponmanachemmal Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Pillaiyar Koil Street (Ward -17): Rs 660 per sq.ft (2024)
• Ponmudiar Street (Ward -6): Rs 1,320 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 rate of Rs 440 per sq.ft, the guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. 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 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 Panangottur

The guideline value is a crucial factor when registering property transactions in Panangottur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the value of the property within the context of the local market. It is essential to consider this value for accurate financial planning and compliance with legal requirements during the transaction process.

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 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

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

The land classification for Pilliyar Koil Street (Ward -2) is Residential Class II Type - II.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800.