Guideline Value for Pillai Thottam

Pillai Thottam guideline value

The current guideline value of Pillai Thottam is Rs 1,001 per sq.ft, effective from 1 July 2024. This area is located in Kathivakkam village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Pillai Thottam has changed

The guideline value for Pillai Thottam has undergone several revisions over the years. In 2002, the value was set at Rs 73 per sq.ft. This increased to Rs 88 per sq.ft in 2003, marking a change of +21%. The value then saw a significant rise to Rs 200 per sq.ft in 2007, which was an increase of +127%. Following this, the 2012 revision set the value at Rs 800 per sq.ft, reflecting a substantial increase of +300% from the previous figure.

In 2017, the guideline value was revised to Rs 536 per sq.ft, a decrease of -33% from 2012. The value then increased to Rs 1,000 per sq.ft in 2023, and finally, in 2024, it was set at Rs 1,001 per sq.ft, showing no change from the previous year. Overall, from 2002 to 2024, the guideline value has increased by +1,271%.

Guideline values in Kathivakkam

In Kathivakkam, there are 47 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,600 per sq.ft, with the median being Rs 1,001 per sq.ft. The guideline value for Pillai Thottam matches this median.

• Ponga Nagar(Nehru Nagar): Rs 1,100 per sq.ft (2024)
• Periyakuppam: Rs 1,001 per sq.ft (2024)
• Porkaliyamman Koil Street: Rs 1,001 per sq.ft (2024)
• Railway Station Road: Rs 1,100 per sq.ft (2024)
• Rajiv Ganthi Nagar: Rs 1,001 per sq.ft (2024)
• Rammmorthi Nagar: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Pillai Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,001 per sq.ft, the total guideline value would be Rs 10,01,000. The stamp duty at 7% would be Rs 70,070, and the registration fee at 2% would be Rs 20,020, making the total amount Rs 90,090. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Pillai Thottam?

The Sub Registrar Office that covers Pillai Thottam is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process of property transactions in Kathivakkam. 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 value of the property. This value is used to calculate the stamp duty and registration fees, which are essential costs involved in the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Pillai Thottam?

The current guideline value of Pillai Thottam is Rs 1,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 73 per sq.ft in 2002 to Rs 1,001 per sq.ft in 2024, reflecting an overall increase of +1,271% over the years.

What is the land classification of Pillai Thottam?

Pillai Thottam is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty rates for property in Pillai Thottam?

The stamp duty for property transactions in Pillai Thottam is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Pillai Thottam?

The Thiruvottiyur Sub Registrar Office, which covers Pillai Thottam, is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.