Guideline Value for Pillaiyar Koil 2nd Lane

Pillaiyar Koil 2nd Lane guideline value

The current guideline value of Pillaiyar Koil 2nd Lane is Rs 1,900 per sq.ft, effective from 1 July 2024. This lane is located in Siruvallur village under the Sembiam SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Pillaiyar Koil 2nd Lane has changed

The guideline value for Pillaiyar Koil 2nd Lane has seen several revisions over the years. The 2007 revision set the value at Rs 800 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012. However, there was a decrease to Rs 1,206 per sq.ft in 2017. The value then rose to Rs 1,800 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 1,900 per sq.ft. The changes between these revisions are as follows: from 2007 to 2012, there was an increase of 125%; from 2012 to 2017, a decrease of 33%; from 2017 to 2023, an increase of 49%; and finally, from 2023 to 2024, an increase of 6%.

It is important to note that there are no figures recorded for the years 2002 and 2003 for this street in the register.

Guideline values in Siruvallur

In Siruvallur, there are 86 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,900 per sq.ft, which is equal to the current guideline value of Pillaiyar Koil 2nd Lane. Below are the guideline values for other streets in Siruvallur:

• Pillaiyar Koil 2nd Street: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil 1st Street: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil 1st Lane: Rs 1,900 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 2,200 per sq.ft (2024)
• Pipe Line Lane: Rs 1,600 per sq.ft (2024)
• Park Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar Koil 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pillaiyar Koil 2nd Lane?

The Sub Registrar Office that covers Pillaiyar Koil 2nd Lane is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Siruvallur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value is often considered the baseline for these charges.

When a property is sold, the guideline value ensures that the government receives appropriate revenue from the transaction. It helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

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

The current guideline value of Pillaiyar Koil 2nd Lane is Rs 1,900 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 800 per sq.ft in 2007 to Rs 1,900 per sq.ft in 2024, with various increases and a decrease in between. The most notable increase was from 2017 to 2023, which saw a rise of 49%.

What is the median guideline value in Siruvallur?

The median guideline value for streets in Siruvallur is Rs 1,900 per sq.ft, which is the same as the current guideline value for Pillaiyar Koil 2nd Lane.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Pillaiyar Koil 2nd Lane?

The Sembiam Sub Registrar Office, which covers Pillaiyar Koil 2nd Lane, is located at 5, Papermills Road, Sembiam, Chennai - 600011.