Guideline Value for Pillaiyar Koil 7th Street

Pillaiyar Koil 7th Street guideline value

The current guideline value of Pillaiyar Koil 7th Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village, under the Adayar SRO, and is classified as Residential Class V Type - III.

How the guideline value of Pillaiyar Koil 7th Street has changed

The guideline value for Pillaiyar Koil 7th Street has undergone several revisions over the years. In 2002, the value was Rs 384 per sq.ft, which increased to Rs 457 per sq.ft in 2003, marking a change of +19%. The value then rose significantly to Rs 1,000 per sq.ft in 2007, a change of +119%. Following this, in 2012, the value was Rs 1,500 per sq.ft, reflecting a decrease of -33% from the previous revision. The next revision in 2017 saw an increase to Rs 1,005 per sq.ft, which was a +49% change. The most recent revision in 2023 set the value at Rs 1,500 per sq.ft, and the upcoming revision in 2024 will see it rise to Rs 1,700 per sq.ft, an increase of +13%.

There are no figures available for the years not mentioned in the revisions for this street. Therefore, the guideline value has seen an overall increase of +343% from 2002 to 2024.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing Pillaiyar Koil 7th Street's 2024 figure below that median.

• Pillaiyar Koil 8th Street: Rs 1,700 per sq.ft (2024)
• Pillaiyar Koil 6th Street: Rs 1,700 per sq.ft (2024)
• Pillaiyar Koil 5th Street: Rs 1,700 per sq.ft (2024)
• Pillaiyar Koil Main Road: Rs 1,700 per sq.ft (2024)
• Pillaiyar Koil 4th Street: Rs 1,700 per sq.ft (2024)
• Pillaiyar Koil 3rd Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar Koil 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pillaiyar Koil 7th Street?

The Sub Registrar Office that covers Pillaiyar Koil 7th Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Kottivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration. This ensures that the transaction is officially recognized and that the appropriate fees are collected by the government.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil 7th Street?

The current guideline value of Pillaiyar Koil 7th Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 384 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, showing an overall increase of +343% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles property registrations for Pillaiyar Koil 7th Street?

The Adayar Sub Registrar Office handles property registrations for Pillaiyar Koil 7th Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the land classification of Pillaiyar Koil 7th Street?

Pillaiyar Koil 7th Street is classified as Residential Class V Type - III according to the local regulations.