Guideline Value for Pagam Pillai street

Pagam Pillai street guideline value

The current guideline value of Pagam Pillai street is Rs 6,300 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Residential Class II Type - II.

How the guideline value of Pagam Pillai street has changed

Pagam Pillai street has seen several revisions in its guideline value over the years. The earliest recorded figure is from 2002, where the value was Rs 534 per sq.ft. This increased to Rs 589 per sq.ft in 2003, marking a change of +10%. The value then rose significantly to Rs 1,200 per sq.ft in 2007, a change of +104%. Following this, the guideline value decreased to Rs 5,800 per sq.ft in 2012, reflecting a -33% change. In 2017, it further increased to Rs 3,886 per sq.ft, which was a +49% change from the previous figure. The most recent revision in 2023 set the guideline value at Rs 5,800 per sq.ft, and it has now increased to Rs 6,300 per sq.ft in 2024, a change of +9%.

Overall, from 2002 to 2024, the guideline value has increased by +1080%. There are no figures for revisions in the years not mentioned in the register.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, placing Pagam Pillai street's 2024 figure below that median.

• PachiyappanCollege HostelStree: Rs 13,500 per sq.ft (2024)
• OsanKulam: Rs 2,800 per sq.ft (2024)
• Ormes Road: Rs 15,000 per sq.ft (2024)
• Omres road 4th cross street: Rs 13,400 per sq.ft (2024)
• Omres road 3rd cross street: Rs 13,400 per sq.ft (2024)
• Omres lane: Rs 13,400 per sq.ft (2024)

Stamp duty and registration fee for property in Pagam Pillai street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,300 per sq.ft, the total guideline value amounts to Rs 63,00,000. The stamp duty at 7% would be Rs 4,41,000, and the registration fee at 2% would be Rs 1,26,000, bringing the total to Rs 5,67,000. 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 Pagam Pillai street?

The Sub Registrar Office that covers Pagam Pillai street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Pagam Pillai street?

The current guideline value of Pagam Pillai street is Rs 6,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 534 per sq.ft in 2002 to Rs 6,300 per sq.ft in 2024, marking an overall increase of +1080%.

What is the land classification for Pagam Pillai street?

Pagam Pillai street is classified as Residential Class II Type - II, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for properties in Pagam Pillai street?

For a property valued at Rs 63,00,000, the stamp duty would be Rs 4,41,000 and the registration fee would be Rs 1,26,000, totaling Rs 5,67,000.

Where is the Sub Registrar Office for Pagam Pillai street located?

The Sub Registrar Office for Pagam Pillai street is located at 1103, Poonamallee High Road, Chennai-600 003, under the Periamet registration zone.