Guideline Value for Pillai Kovil Street

Pillai Kovil Street guideline value

The current guideline value of Pillai Kovil Street is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Siruvadal village and falls under the Sunguvarchattram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Pillai Kovil Street has changed

The guideline value for Pillai Kovil Street has seen several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 200 per sq.ft. In 2017, the value dropped to Rs 134 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 200 per sq.ft. The 2024 revision maintains this value at Rs 200 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for Pillai Kovil Street. Therefore, the revisions we can track are limited to 2012, 2017, 2023, and 2024.

Guideline values in Siruvadal

In Siruvadal, there are three streets under the Sunguvarchattram SRO that have a 2024 guideline value, ranging from Rs 200 to Rs 500 per sq.ft. The median value for these streets is Rs 250 per sq.ft, indicating that Pillai Kovil Street's 2024 figure is below this median.

• Erikarai Street: Rs 250 per sq.ft (2024)
• Bangalore Main Road: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Pillai Kovil Street

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, leading to a total of Rs 18,000. 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 details.

Which Sub Registrar Office covers Pillai Kovil Street?

The Sub Registrar Office that covers Pillai Kovil Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor during property registration in Siruvadal. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable fees. This ensures that the transaction is documented accurately and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Pillai Kovil Street?

The current guideline value of Pillai Kovil Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then back to Rs 200 per sq.ft in 2023 and 2024.

What are the other streets in Siruvadal with guideline values?

Other streets in Siruvadal with guideline values include Erikarai Street at Rs 250 per sq.ft and Bangalore Main Road at Rs 500 per sq.ft for 2024.

Where can I find the Sub Registrar Office for Pillai Kovil Street?

The Sub Registrar Office for Pillai Kovil Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for assistance.