Guideline Value for Pillaiyar Koil 2nd Street

Pillaiyar Koil 2nd Street guideline value

The current guideline value of Pillaiyar Koil 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

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

The guideline value for Pillaiyar Koil 2nd Street has seen several revisions over the years. In 2012, the guideline value was Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, representing a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, which is a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ramapuram

In Ramapuram, there are a total of 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,100 per sq.ft, indicating that Pillaiyar Koil 2nd Street's 2024 figure is below this median.

• Pillaiyar Koil 1st Street: Rs 2,750 per sq.ft (2024)
• Pethania Nagar Annex: Rs 2,750 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 2,750 per sq.ft (2024)
• Ponni Amman Nagar: Rs 1,950 per sq.ft (2024)
• Periyar Road: Rs 6,600 per sq.ft (2024)
• Ponnusamy Naicker Street: Rs 1,950 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 guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Pillaiyar Koil 2nd Street?

The Sub Registrar Office that covers Pillaiyar Koil 2nd Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ramapuram. It serves as a reference point for calculating the stamp duty and registration fees that are required at the time of property registration.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. This helps maintain transparency and consistency in property transactions.

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 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Pillaiyar Koil 2nd Street?

The land classification for Pillaiyar Koil 2nd Street is Residential Class II Type - II.

What is the stamp duty for property in Pillaiyar Koil 2nd Street?

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

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

The Sub Registrar Office for Pillaiyar Koil 2nd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.