Guideline Value for PILLYAR KOIL STREET (NEAR SBI COLONY)

Pillyar Koil Street (Near Sbi Colony) guideline value

The current guideline value of Pillyar Koil Street (Near Sbi Colony) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village and falls under the Neelankarai SRO, classified as Residential Class II Type - I.

How the guideline value of Pillyar Koil Street (Near Sbi Colony) has changed

Looking at the revisions, the guideline value for Pillyar Koil Street has seen significant changes over the years. In 2012, the value was Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value rose to Rs 3,000 per sq.ft in 2023, and finally, it increased to Rs 3,300 per sq.ft in 2024. The register has no figure for this street in 2002, 2003, and 2007.

Between the revisions, the changes were notable: from 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, there was an increase of 49%. The overall change from 2012 to 2024 reflects a modest increase of 10%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with a 2024 guideline value range from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is the same as the current guideline value for Pillyar Koil Street (Near Sbi Colony).

• Pilliyar Koil Street (Omr To Radial Road): Rs 4,400 per sq.ft (2024)
• Pitchai Mani Garden: Rs 3,300 per sq.ft (2024)
• Pilliyar Koil 1st Lane (Mettukuppam): Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil Street & Road (Mettukuppam): Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil Street (Radial Road To Seevaram): Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil Street (Near Selvakumar Avenue): Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Pillyar Koil Street (Near Sbi Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for stamp duty and registration fees Rs 2,97,000. Duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Pillyar Koil Street (Near Sbi Colony)?

The Sub Registrar Office that covers Pillyar Koil Street (Near Sbi Colony) is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor during property transactions in Okkiyamthuraipakkam. It is used to determine the stamp duty and registration fees applicable when a property is sold or bought. This value ensures that the government collects the appropriate taxes based on the property's worth as established by the guideline value register.

When buyers and sellers agree on a sale price, the higher of the sale price or the guideline value is used to calculate the stamp duty. This process helps maintain transparency and consistency in property transactions across the region.

Frequently asked questions

What is the current guideline value for Pillyar Koil Street (Near Sbi Colony)?

The current guideline value for Pillyar Koil Street (Near Sbi Colony) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What are the other streets in Okkiyamthuraipakkam and their guideline values?

Other streets in Okkiyamthuraipakkam include Pilliyar Koil Street (Omr To Radial Road) at Rs 4,400 per sq.ft, Pitchai Mani Garden at Rs 3,300 per sq.ft, and several others with varying rates.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 2,97,000.

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

The Neelankarai Sub Registrar Office covers Pillyar Koil Street (Near Sbi Colony) and is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.