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 3,850 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village, under the Virugambakkam SRO, and is classified as Residential Class I 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 significant changes over the years. In 2002, the guideline value was Rs 245 per sq.ft. This increased to Rs 270 per sq.ft in 2003, marking a 10% rise. The value then surged dramatically to Rs 1,100 per sq.ft in 2007, reflecting a 307% increase. Following this, the guideline value was revised to Rs 3,500 per sq.ft in 2012, which was a decrease of 33% from the previous figure.

From 2012 to 2017, the guideline value remained at Rs 2,345 per sq.ft, and in 2017 it rose to Rs 3,500 per sq.ft. The most recent changes include a rise to Rs 3,850 per sq.ft in 2023, which was a 10% increase, and the current value of Rs 3,850 per sq.ft effective from 1 July 2024. The overall change from 2002 to 2024 represents an increase of 1,471%.

Guideline values in Nesapakkam

Nesapakkam village has a total of 148 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Pillaiyar Koil 2nd Cross Street's 2024 figure above that median.

• Pillaiyar Koil 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil Street Extension: Rs 3,850 per sq.ft (2024)
• Ponnammal Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Ponnammal Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Ponnammal Nagar Main Road: Rs 2,750 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 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total charges to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

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

The Sub Registrar Office that covers Pillaiyar Koil 2nd Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nesapakkam. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of property registration.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the fees are based on a recognized value, providing a standardized approach to 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 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 245 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 1,471% over this period.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Pillaiyar Koil 2nd Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Virugambakkam Sub Registrar Office covers Pillaiyar Koil 2nd Cross Street and is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the guideline values of other streets in Nesapakkam?

Other streets in Nesapakkam have varying guideline values, with rates ranging from Rs 2,200 to Rs 7,150 per sq.ft. For instance, Pillaiyar Koil 1st Cross Street and Pillaiyar Koil Street both have a guideline value of Rs 3,850 per sq.ft in 2024.