Guideline Value for Pillaiyar Koil 5th Street

Pillaiyar Koil 5th Street guideline value

The current guideline value of Pillaiyar Koil 5th Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Kaspapuram village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of Pillaiyar Koil 5th Street has changed

The guideline value for Pillaiyar Koil 5th Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 500 per sq.ft, which then changed to Rs 335 per sq.ft in 2017, reflecting a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 500 per sq.ft. The most recent revision in 2024 has raised the value to Rs 550 per sq.ft, marking a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kaspapuram

Kaspapuram village has a total of 76 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 440 to Rs 4,300 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, indicating that the 2024 figure for Pillaiyar Koil 5th Street is below this median.

• Pillaiyar Koil 4th Street: Rs 550 per sq.ft (2024)
• Pillaiyar Koil 6th Street: Rs 550 per sq.ft (2024)
• Padavatamman Koil Street: Rs 440 per sq.ft (2024)
• Padavatamman Koil Cross Street: Rs 440 per sq.ft (2024)
• Rajiv Gandhi Nagar Main Road: Rs 550 per sq.ft (2024)
• Nesamani Chellammal Avenue: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar Koil 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total cost for these fees to Rs 49,500. 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 5th Street?

The Pillaiyar Koil 5th Street falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kaspapuram. It serves as a benchmark for determining the minimum value at which properties must be registered, ensuring that the government receives the appropriate revenue from stamp duty and registration fees.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable taxes. The registration office uses this value to assess the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil 5th Street?

The current guideline value of Pillaiyar Koil 5th Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Pillaiyar Koil 5th Street?

Pillaiyar Koil 5th Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the other streets in Kaspapuram with similar guideline values?

Other streets in Kaspapuram with similar guideline values include Pillaiyar Koil 4th Street and Pillaiyar Koil 6th Street, both at Rs 550 per sq.ft as of 2024.

Where can I find the Sub Registrar Office for Pillaiyar Koil 5th Street?

The Sub Registrar Office covering Pillaiyar Koil 5th Street is the Tambaram Joint 1 SRO, located at No.26, Mes Road, East Tambaram, Chennai-600059.