Guideline Value for Pillaiyar Koil Street

Pillaiyar Koil Street guideline value

The current guideline value of Pillaiyar Koil Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO, and is classified as Residential Special Type - III.

How the guideline value of Pillaiyar Koil Street has changed

The guideline value for Pillaiyar Koil Street has seen several revisions over the years. In 2002, the value was set at Rs 1,258 per sq.ft. This increased to Rs 1,374 per sq.ft in 2003, marking a change of +9%. The value further rose to Rs 1,800 per sq.ft in 2007, reflecting an increase of +31%. In 2012, however, the value decreased to Rs 5,000 per sq.ft, a drop of -33%. The subsequent revisions saw the value rise again, with Rs 3,350 per sq.ft in 2017, which was a significant increase of +49% from the previous figure. The guideline value then increased to Rs 5,000 per sq.ft in 2023, before reaching the current value of Rs 5,500 per sq.ft in 2024, an increase of +10%.

There are no figures available for the revisions in years other than those listed. Therefore, the changes in guideline value for Pillaiyar Koil Street are based solely on the revisions from 2002 to 2024.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Pillaiyar Koil Street's current guideline value of Rs 5,500 per sq.ft is above this median.

• Pillaiyar Koil sannathi Street: Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil North Street: Rs 4,400 per sq.ft (2024)
• Ponnammal Street: Rs 4,400 per sq.ft (2024)
• Perumal Koil Street: Rs 4,400 per sq.ft (2024)
• Ponniamman Koil Street: Rs 3,300 per sq.ft (2024)
• Perumal Koil South Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Pillaiyar Koil Street?

The Sub Registrar Office that covers Pillaiyar Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Saligramam. It determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware of this value to ensure compliance with legal requirements during the transaction process.

When a property is sold, the guideline value is used to assess the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street?

The current guideline value of Pillaiyar Koil Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,258 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of +337% over the years.

What is the land classification of Pillaiyar Koil Street?

Pillaiyar Koil Street is classified as Residential Special Type - III, which influences its guideline value.

What are the stamp duty and registration fees for properties on this street?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 4,95,000.

Which Sub Registrar Office covers this area?

The Virugambakkam Sub Registrar Office covers Pillaiyar Koil Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.