Guideline Value for Pillaiyar Koil 2nd Street

Pillaiyar Koil 2nd Street guideline value

The current guideline value of Pillaiyar Koil 2nd Street is Rs 8,700 per sq.ft, effective from July 1, 2024. This street is located in Mylapore Part 2 village under the Chennai Central Joint I SRO, with a land classification of Residential Class I Type - III.

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

The guideline value for Pillaiyar Koil 2nd Street has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. However, in 2023, the guideline value was Rs 8,000 per sq.ft, which increased to Rs 8,700 per sq.ft in 2024, marking a change of +9%.

From the 2024 revision, the guideline value stands at Rs 8,700 per sq.ft, reflecting the latest assessment. The previous revision in 2023 was Rs 8,000 per sq.ft, indicating a notable increase in value over the past year.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for this area is Rs 8,800 per sq.ft, placing Pillaiyar Koil 2nd Street's 2024 figure below this median.

• Pillaiyar Koil 1st Street: Rs 8,700 per sq.ft (2024)
• Pillaiyar Koil Lane: Rs 8,700 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 8,700 per sq.ft (2024)
• Peters Road: Rs 13,200 per sq.ft (2024)
• Peters Lane: Rs 8,800 per sq.ft (2024)
• Pilliayar Koil Cross Street: Rs 8,700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, totaling Rs 7,83,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Pillaiyar Koil 2nd Street?

The Sub Registrar Office covering Pillaiyar Koil 2nd Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is an essential factor in the registration of property transactions in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay during the property transfer process.

When a property is sold, the guideline value is used to calculate the applicable taxes, ensuring that both parties are aware of the financial implications of the transaction. It is crucial for buyers and sellers to understand the guideline value to avoid any unexpected costs during the registration process.

Frequently asked questions

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

The current guideline value of Pillaiyar Koil 2nd Street is Rs 8,700 per sq.ft, effective from July 1, 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased from Rs 8,000 per sq.ft to Rs 8,700 per sq.ft, reflecting a change of +9%.

What is the median guideline value in Mylapore Part 2?

The median guideline value in Mylapore Part 2 is Rs 8,800 per sq.ft, which is higher than the current value of Pillaiyar Koil 2nd Street.

What are the registration fees for properties in Pillaiyar Koil 2nd Street?

The registration fees for properties in Pillaiyar Koil 2nd Street include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Pillaiyar Koil 2nd Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.