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. This street is located in Sattamangalam 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 seen several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which was later reduced to Rs 268 per sq.ft in the 2017 revision. However, this was followed by a significant increase to Rs 400 per sq.ft in the 2023 revision, and then a further increase to Rs 440 per sq.ft in the 2024 revision, reflecting a 10% rise from the previous year.

Between the revisions, the changes in guideline values are notable. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value of 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 guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, while the registration fee at 2% would be Rs 8,800, bringing the total cost for these fees to Rs 39,600. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

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 Sattamangalam

The guideline value is an essential factor when buying or selling property in Sattamangalam. It serves as a benchmark for determining the minimum value of the property for registration purposes. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives appropriate revenue from property transactions.

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 2023 to Rs 440 per sq.ft in 2024, a 10% increase. It was Rs 268 per sq.ft in 2017, showing a 49% increase to 2023.

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.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800, totaling Rs 39,600. These fees are based on the higher of the guideline value or the sale price.

Which office handles registrations for Pilliyar Koil Street (Ward -2)?

The Chengleput Joint II Sub Registrar Office handles registrations for Pilliyar Koil Street (Ward -2), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.