Guideline Value for Pillaiar Koil Cross Street (M.A.NAGAR)

Pillaiar Koil Cross Street (M.A.NAGAR) guideline value

The current guideline value of Pillaiar Koil Cross Street (M.A.NAGAR) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Padiyanallur village and falls under the Redhills SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Pillaiar Koil Cross Street (M.A.NAGAR) has changed

The guideline value for Pillaiar Koil Cross Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 600 per sq.ft. This increased to Rs 1,200 per sq.ft in 2012, marking a 100% rise. However, it then decreased to Rs 804 per sq.ft in 2017, reflecting a decline of 33%. The value rose significantly again to Rs 1,200 per sq.ft in 2023, and the latest revision in 2024 sets it at Rs 1,320 per sq.ft, a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Padiyanallur

Padiyanallur has a total of 132 streets under the Redhills SRO, with guideline values ranging from Rs 385 to Rs 2,750 per sq.ft. The median guideline value for the village is Rs 770 per sq.ft, placing Pillaiar Koil Cross Street's 2024 figure above this median.

• Perunchithanar Street: Rs 770 per sq.ft (2024)
• Perumal Koil Street (PANNEERVAKKAM COLONY): Rs 385 per sq.ft (2024)
• Pillayar Koil Street: Rs 1,320 per sq.ft (2024)
• Pillayar Koil Street (Near Jothi Nagar): Rs 770 per sq.ft (2024)
• Perumal Koil Steet (PANNEERVAKKAM): Rs 385 per sq.ft (2024)
• Periyar Street (Bhavani Nagar): Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiar Koil Cross Street (M.A.NAGAR)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty, charged at 7%, would be Rs 92,400, and the registration fee at 2% would be Rs 26,400. Together, these fees total Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Pillaiar Koil Cross Street (M.A.NAGAR)?

The Sub Registrar Office that covers Pillaiar Koil Cross Street (M.A.NAGAR) is the Redhills Sub Registrar Office. The office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Padiyanallur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the registration fees and stamp duty are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Pillaiar Koil Cross Street?

The current guideline value for Pillaiar Koil Cross Street (M.A.NAGAR) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

What is the land classification for Pillaiar Koil Cross Street?

The land classification for Pillaiar Koil Cross Street (M.A.NAGAR) is Residential Special Type - I.

Where can I find the registration office for this area?

The registration office for Pillaiar Koil Cross Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.