Guideline Value for Pillaiyar Koil 1st Cross Street

Pillaiyar Koil 1st Cross Street guideline value

The current guideline value of Pillaiyar Koil 1st Cross Street is Rs 5,500 per sq.ft. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class III Type - I.

How the guideline value of Pillaiyar Koil 1st Cross Street has changed

The guideline value for Pillaiyar Koil 1st Cross Street has seen several revisions over the years. In 2007, the value was Rs 1,210 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it decreased to Rs 3,350 per sq.ft in 2017. The value then rose to Rs 5,000 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. The change from 2012 to 2017 was a decrease of 33%, while the jump from 2007 to 2012 was a remarkable 313%. Overall, from 2007 to 2024, the guideline value has increased by 355%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 4,900 per sq.ft, making the 2024 guideline value of Pillaiyar Koil 1st Cross Street above this median.

• Pillaiyar Koil 2nd Cross Street: Rs 5,500 per sq.ft (2024)
• Phugazhandhi Pallam(Phugazhandhi Street): Rs 3,300 per sq.ft (2024)
• Phugazhandhi Pallam Extension(M.G.R. Nagar): Rs 3,300 per sq.ft (2024)
• Pillaiyar Koil 3rd Cross Street: Rs 5,500 per sq.ft (2024)
• Perumal Koil (West Mada Street) (W.M): Rs 4,900 per sq.ft (2024)
• Pillaiyar Koil Street (JPT): Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar Koil 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pillaiyar Koil 1st Cross Street?

The Sub Registrar Office that covers Pillaiyar Koil 1st Cross Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO here.

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

The guideline value is a crucial factor when buying or selling property in Kodambakkam, as it determines the minimum value at which a property can be registered. Buyers must ensure that the transaction value meets or exceeds this guideline value to comply with registration requirements.

When registering a property, the stamp duty and registration fees are calculated 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 1st Cross Street?

The current guideline value of Pillaiyar Koil 1st Cross 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 changed significantly, from Rs 1,210 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 355% over the years.

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

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers this street?

The Ashok Nagar Sub Registrar Office covers Pillaiyar Koil 1st Cross Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Pillaiyar Koil 1st Cross Street?

Pillaiyar Koil 1st Cross Street is classified as Residential Class III Type - I.