Guideline Value for Pillaiyar Koil 2nd lane

Pillaiyar Koil 2nd lane guideline value

The current guideline value of Pillaiyar Koil 2nd lane is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village under the Triplicane SRO and is classified as Residential Class I Type - I.

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. In 2007, the value was set at Rs 2,143 per sq.ft. This figure increased significantly to Rs 6,000 per sq.ft in 2012, marking a rise of 180%. However, it then decreased to Rs 4,020 per sq.ft in 2017, a drop of 33%. The value continued to rise, reaching Rs 6,000 per sq.ft in 2023, which was a 49% increase from the previous revision. The most recent revision in 2024 set the value at Rs 6,600 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 208%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value is Rs 6,600 per sq.ft, which is the same as the current guideline value for Pillaiyar Koil 2nd lane.

• Pillaiyar Koil 1st lane: Rs 6,600 per sq.ft (2024)
• Peyalwar Street: Rs 7,700 per sq.ft (2024)
• Peters Road (North Side): Rs 13,200 per sq.ft (2024)
• Peters Lane: Rs 7,700 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 8,800 per sq.ft (2024)
• Perumal Mudali Street: Rs 7,700 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 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. 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 Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Triplicane. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

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 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 2,143 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 208%.

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

Pillaiyar Koil 2nd lane is classified as Residential Class I Type - I.

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

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

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000.