Guideline Value for Pillaiyar Koil 1st Street

Pillaiyar Koil 1st Street guideline value

The current guideline value of Pillaiyar Koil 1st Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village under the Adayar SRO and falls under Residential Class V Type - III land classification.

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

The guideline value for Pillaiyar Koil 1st Street has undergone several revisions over the years. In 2002, the value was Rs 384 per sq.ft, which increased to Rs 457 per sq.ft in 2003, marking a 19% rise. The value then saw a significant jump of 119% to reach Rs 1,000 per sq.ft in 2007. Following this, the 2012 revision set the value at Rs 1,500 per sq.ft, reflecting a 50% increase from the previous revision. However, this was followed by a decrease of 33% to Rs 1,005 per sq.ft in 2017. The value then increased to Rs 1,500 per sq.ft in 2023, before reaching the current figure of Rs 1,700 per sq.ft in 2024, which is a 13% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 343%. The register has no figure for this street in the years not mentioned in the revisions.

Guideline values in Kottivakkam

Kottivakkam village has 284 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value of Pillaiyar Koil 1st Street is below this median.

• Pillaiyar Koil 2nd Street: Rs 1,700 per sq.ft (2024)
• Pillaiyar Koil 3rd Street: Rs 1,700 per sq.ft (2024)
• Pillaiyar Koil 4th Street: Rs 1,700 per sq.ft (2024)
• Pillaiyar Koil 5th Street: Rs 1,700 per sq.ft (2024)
• Pillaiyar Koil 6th Street: Rs 1,700 per sq.ft (2024)
• Pillaiyar Koil 7th Street: Rs 1,700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more calculations.

Which Sub Registrar Office covers Pillaiyar Koil 1st Street?

The Sub Registrar Office that covers Pillaiyar Koil 1st Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for further details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kottivakkam. It serves as a benchmark for determining the minimum value of the property, which helps in calculating applicable stamp duty and registration fees.

When a property transaction occurs, the registration office uses the guideline value to ensure that the transaction is recorded accurately. This value helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil 1st Street?

The current guideline value of Pillaiyar Koil 1st Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 384 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 343% over the years.

What is the median guideline value in Kottivakkam?

The median guideline value in Kottivakkam is Rs 3,900 per sq.ft, while Pillaiyar Koil 1st Street's value is below this median.

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

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.