Guideline Value for Pillaiyar Koil 3rd Cross Street

Pillaiyar Koil 3rd Cross Street guideline value

The current guideline value of Pillaiyar Koil 3rd Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class III Type - I.

How the guideline value of Pillaiyar Koil 3rd Cross Street has changed

The guideline value for Pillaiyar Koil 3rd Cross Street has seen several revisions over the years. In 2007, the value was Rs 1,210 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, there was a decrease to Rs 3,350 per sq.ft in 2017. The value then rose to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision. There are no figures available for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. The overall change from 2007 to 2024 is an increase of 355%, reflecting the fluctuations in the property market over these years.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, positioning Pillaiyar Koil 3rd Cross Street above this median.

• Pillaiyar Koil 2nd Cross Street: Rs 5,500 per sq.ft (2024)
• Pillaiyar Koil 1st Cross Street: Rs 5,500 per sq.ft (2024)
• Phugazhandhi Pallam(Phugazhandhi Street): Rs 3,300 per sq.ft (2024)
• Phugazhandhi Pallam Extension(M.G.R. Nagar): Rs 3,300 per sq.ft (2024)
• Pillaiyar Koil Street (JPT): Rs 5,500 per sq.ft (2024)
• Pillaiyar Koil Street (Kasikulam): Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar Koil 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, these fees would total Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Pillaiyar Koil 3rd Cross Street?

The Sub Registrar Office that covers Pillaiyar Koil 3rd Cross Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Kodambakkam. It is used to determine the stamp duty and registration fees that must be paid at the time of property registration. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price of the property.

Understanding the guideline value is essential for both buyers and sellers as it ensures compliance with local regulations and helps in estimating the total cost involved in the transaction. It is advisable to check the latest guideline values before proceeding with any property transactions.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil 3rd Cross Street?

The current guideline value of Pillaiyar Koil 3rd Cross Street is Rs 5,500 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 1,210 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 355% over the years.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For a property valued at Rs 55,00,000, the total fees would be Rs 4,95,000.

Which office handles registrations for Pillaiyar Koil 3rd Cross Street?

The Ashok Nagar Sub Registrar Office handles registrations for Pillaiyar Koil 3rd Cross Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the significance of the guideline value in property transactions?

The guideline value is important as it determines the stamp duty and registration fees payable during property transactions. It ensures that buyers and sellers comply with local regulations and helps in estimating the total cost involved in the transaction.