Guideline Value for Pillaiar Koil Street

Pillaiar Koil Street guideline value

The current guideline value of Pillaiar Koil Street is Rs 5,400 per sq.ft, effective from 1 July 2024. This street is located in Naduvakkarai village and falls under the AnnaNagar SRO, classified as Residential Class II Type - II.

How the guideline value of Pillaiar Koil Street has changed

Over the years, the guideline value of Pillaiar Koil Street has seen significant changes. In the 2007 revision, the value was Rs 1,800 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012. However, this was a decrease of 33% from the previous revision. The value then rose dramatically to Rs 3,350 per sq.ft in 2017, marking an increase of 178% from 2007. Following this, the 2023 revision set the value at Rs 5,000 per sq.ft, which was a substantial increase of 49% from the 2017 figure. The latest revision in 2024 has further increased the value to Rs 5,400 per sq.ft, reflecting an 8% rise from 2023.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 200%.

Guideline values in Naduvakkarai

Naduvakkarai village contains a total of 148 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median guideline value for these streets is Rs 11,500 per sq.ft, indicating that Pillaiar Koil Street's 2024 figure is below this median.

• Poonamalle Road Lane: Rs 11,000 per sq.ft (2024)
• New Colony, Periyar Street, Slum Clearance Board Flats, Naduvakkarai TNHB Land: Rs 5,400 per sq.ft (2024)
• Nathamuni 2nd Cross Street: Rs 5,400 per sq.ft (2024)
• Naduvakkarai Street: Rs 5,500 per sq.ft (2024)
• Nadhamuni Reddy Street: Rs 5,400 per sq.ft (2024)
• M.G.R.Street, New Colony: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,400 per sq.ft, the total guideline value amounts to Rs 54,00,000. The stamp duty at 7% would be Rs 3,78,000, and the registration fee at 2% would be Rs 1,08,000, bringing the total fees to Rs 4,86,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pillaiar Koil Street?

The Sub Registrar Office covering Pillaiar Koil Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Naduvakkarai. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction process.

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

Frequently asked questions

What is the current guideline value of Pillaiar Koil Street?

The current guideline value of Pillaiar Koil Street is Rs 5,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 1,800 per sq.ft in 2007 to Rs 5,400 per sq.ft in 2024, reflecting an overall increase of 200% over this period.

What is the median guideline value in Naduvakkarai?

The median guideline value for the 148 streets in Naduvakkarai is Rs 11,500 per sq.ft, which is higher than the current value of Pillaiar Koil Street.

What are the stamp duty rates for properties in Pillaiar Koil Street?

The stamp duty for properties in Pillaiar Koil Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Pillaiar Koil Street located?

The Sub Registrar Office for Pillaiar Koil Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.