Guideline Value for Pillaiyar Koil 1 to 4 Streets

Pillaiyar Koil 1 to 4 Streets guideline value

The current guideline value for Pillaiyar Koil 1 to 4 Streets is Rs 2,160 per sq.ft, effective from 1 July 2024. This area is located in Kovilambakkam village and falls under the Pallavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Pillaiyar Koil 1 to 4 Streets has changed

The guideline value for Pillaiyar Koil 1 to 4 Streets has seen significant changes over the years. In 2002, the guideline value was Rs 67 per sq.ft, which increased to Rs 84 per sq.ft in 2003, marking a 25% rise. The value then saw a substantial increase to Rs 350 per sq.ft in 2007, reflecting a 317% change. Following this, the value jumped dramatically to Rs 2,000 per sq.ft in 2012, a rise of 471%. However, the value decreased to Rs 1,340 per sq.ft in 2017, representing a decline of 33%. In 2023, the guideline value was Rs 2,000 per sq.ft, and it has now increased to Rs 2,160 per sq.ft in 2024, reflecting an 8% increase.

Overall, from 2002 to 2024, the guideline value has increased by an impressive 3,124%. There are no revisions with figures missing for this street in the register.

Guideline values in Kovilambakkam

Kovilambakkam village has a total of 61 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 1,320 to Rs 5,610 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing the current value for Pillaiyar Koil 1 to 4 Streets below this median.

• PMD Nagar: Rs 4,070 per sq.ft (2024)
• Periyar Salai: Rs 2,750 per sq.ft (2024)
• Periya Kovilambakkam 1 to 6 Streets: Rs 2,750 per sq.ft (2024)
• Periya Kovilambakkam: Rs 2,750 per sq.ft (2024)
• Palika Company Street: Rs 2,750 per sq.ft (2024)
• Palandiamman Koil Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar Koil 1 to 4 Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total fees together to Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Pillaiyar Koil 1 to 4 Streets?

The Sub Registrar Office that covers Pillaiyar Koil 1 to 4 Streets is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Kovilambakkam. It serves as a benchmark for determining the minimum value at which property transactions must be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the buyer and seller must refer to the guideline value to calculate the applicable fees. This ensures transparency in property transactions and helps prevent undervaluation of properties during registration.

Frequently asked questions

What is the current guideline value for Pillaiyar Koil 1 to 4 Streets?

The current guideline value for Pillaiyar Koil 1 to 4 Streets is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 67 per sq.ft in 2002 to Rs 2,160 per sq.ft in 2024, marking an overall increase of 3,124%.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2% of the guideline value or sale price.

Which office handles property registrations for Pillaiyar Koil 1 to 4 Streets?

The Pallavaram Sub Registrar Office handles property registrations for Pillaiyar Koil 1 to 4 Streets, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the land classification for Pillaiyar Koil 1 to 4 Streets?

Pillaiyar Koil 1 to 4 Streets is classified as Residential Class II Type - I under the guideline value register.