Guideline Value for Pillaiyar Koil 2nd Cross Street

Pillaiyar Koil 2nd Cross Street guideline value

The current guideline value of Pillaiyar Koil 2nd Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024. 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 2nd Cross Street has changed

The guideline value for Pillaiyar Koil 2nd Cross Street has seen several revisions over the years. The earliest recorded figure is Rs 1,210 per sq.ft from the 2007 revision. This increased significantly to Rs 5,000 per sq.ft in the 2012 revision, marking a rise of 313%. However, the value then dropped to Rs 3,350 per sq.ft in the 2017 revision, a decrease of 33%. The value rebounded to Rs 5,000 per sq.ft in the 2023 revision, and the current figure is Rs 5,500 per sq.ft as per the 2024 revision, reflecting a 10% increase from the previous year.

In summary, from 2007 to 2024, the overall increase in the guideline value is 355%. Notably, there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, the guideline values vary across 1,031 streets under the Ashok Nagar SRO, with figures ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, making the current value of Pillaiyar Koil 2nd Cross Street above the median.

• Pillaiyar Koil 1st Cross Street: Rs 5,500 per sq.ft (2024)
• Pillaiyar Koil 3rd 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 Street (JPT): Rs 5,500 per sq.ft (2024)
• Pillaiyar Koil Street (Kasikulam): Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar Koil 2nd 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 amounts to Rs 55,00,000. The stamp duty is charged at 7%, totaling Rs 3,85,000, and the registration fee is 2%, amounting to Rs 1,10,000. Together, these fees come to Rs 4,95,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pillaiyar Koil 2nd Cross Street?

The Sub Registrar Office covering Pillaiyar Koil 2nd Cross Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is documented at a fair value as per the state regulations.

When a property is sold, the guideline value is used to determine the applicable fees, which are based on either the guideline value or the sale price, depending on which is higher. This ensures transparency and compliance with local laws during property transactions.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil 2nd Cross Street?

The current guideline value of Pillaiyar Koil 2nd 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 other streets with similar guideline values in Kodambakkam?

Other streets in Kodambakkam with similar guideline values include Pillaiyar Koil 1st Cross Street and Pillaiyar Koil 3rd Cross Street, both at Rs 5,500 per sq.ft as of 2024.

What fees are associated with buying property in Pillaiyar Koil 2nd Cross Street?

When buying property, the stamp duty is 7% of the guideline value, and the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Pillaiyar Koil 2nd Cross Street located?

The Sub Registrar Office for Pillaiyar Koil 2nd Cross Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.