Guideline Value for Pillaiyar Koil 8th Street

Pillaiyar Koil 8th Street guideline value

The current guideline value of Pillaiyar Koil 8th Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village and falls under the Adayar SRO. The land classification for this area is Residential Class V Type - III.

How the guideline value of Pillaiyar Koil 8th Street has changed

The guideline value for Pillaiyar Koil 8th Street has undergone several revisions over the years. In 2002, the guideline value was Rs 384 per sq.ft. This increased to Rs 457 per sq.ft in 2003, marking a 19% rise. The value continued to climb, reaching Rs 1,000 per sq.ft in 2007, which was a significant increase of 119%. By 2012, the value adjusted to Rs 1,500 per sq.ft, reflecting a decrease of 33% from the previous revision. The 2017 revision saw the value rise again to Rs 1,005 per sq.ft, followed by a substantial increase to Rs 1,500 per sq.ft in 2023, and finally reaching Rs 1,700 per sq.ft in 2024, which is a 13% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 343%. The register has no figures for revisions in years not listed, ensuring that all changes are accounted for accurately.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO, with guideline values ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, positioning Pillaiyar Koil 8th Street's 2024 figure below that median.

• Pillaiyar Koil 7th 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 8th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees together 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pillaiyar Koil 8th Street?

The Sub Registrar Office that covers Pillaiyar Koil 8th 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 is a critical factor during the registration of property transactions in Kottivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value impacts the calculation of stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should be aware of the guideline value to understand the financial implications of their property purchase.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil 8th Street?

The current guideline value of Pillaiyar Koil 8th 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, reflecting an overall increase of 343% over the years.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Pillaiyar Koil 8th Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kottivakkam?

The Sub Registrar Office for Kottivakkam is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What are the guideline values of other streets in Kottivakkam?

Other streets in Kottivakkam have a guideline value of Rs 1,700 per sq.ft for the year 2024, including Pillaiyar Koil 7th Street, Pillaiyar Koil 6th Street, Pillaiyar Koil 5th Street, Pillaiyar Koil Main Road, Pillaiyar Koil 4th Street, and Pillaiyar Koil 3rd Street.