Guideline Value for Pillaiayar Kovil Street

Pillaiayar Kovil Street guideline value

The current guideline value of Pillaiayar Kovil Street is Rs 605 per sq.ft, effective from 1 July 2024. This street is located in Thirumangalam village, under the Sunguvarchattram SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Pillaiayar Kovil Street has changed

The guideline value for Pillaiayar Kovil Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 200 per sq.ft, which increased to Rs 405 per sq.ft in the 2017 revision, marking a 103% increase. The 2023 revision maintained this value at Rs 605 per sq.ft, and the 2024 revision continues with the same figure of Rs 605 per sq.ft, showing no change from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a significant increase of 203%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street in the register.

Guideline values in Thirumangalam

In Thirumangalam, there are 42 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 2,000 per sq.ft. The median value among these streets is Rs 605 per sq.ft, which is equal to the current guideline value of Pillaiayar Kovil Street.

• Ponniamman Kovil Street: Rs 600 per sq.ft (2024)
• Ponniamman Kovil Street(Thirumangalam Madura Kandigai): Rs 250 per sq.ft (2024)
• Palla Street: Rs 700 per sq.ft (2024)
• Palkarar Street: Rs 600 per sq.ft (2024)
• Padmavathi Nagar: Rs 605 per sq.ft (2024)
• Rajiv Gandhi Virpannai Koodam: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiayar Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 605 per sq.ft, the total guideline value would be Rs 6,05,000. The stamp duty at 7% would amount to Rs 42,350, while the registration fee at 2% would be Rs 12,100, bringing the total fees together to Rs 54,450. 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 Pillaiayar Kovil Street?

The Sub Registrar Office covering Pillaiayar 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 Thirumangalam

The guideline value plays a crucial role in the registration process when buying or selling property in Thirumangalam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of this value to ensure compliance with legal and financial obligations during the registration process.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate taxes based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Pillaiayar Kovil Street?

The current guideline value of Pillaiayar Kovil Street is Rs 605 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 200 per sq.ft in 2012 to Rs 605 per sq.ft in 2024, marking an overall increase of 203% over this period.

What are the other streets in Thirumangalam with their guideline values?

Other streets in Thirumangalam include Ponniamman Kovil Street at Rs 600 per sq.ft, Palla Street at Rs 700 per sq.ft, and Padmavathi Nagar at Rs 605 per sq.ft, among others.

What are the fees associated with buying property in Pillaiayar Kovil Street?

The fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

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

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