Guideline Value for Pillaiyar Koil Lane

Pillaiyar Koil Lane guideline value

The current guideline value of Pillaiyar Koil Lane is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village, under the Chennai Central Joint I SRO, with a land classification of Residential Class I Type - III.

How the guideline value of Pillaiyar Koil Lane has changed

The guideline value for Pillaiyar Koil Lane has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 8,700 per sq.ft, reflecting an increase of 9% from the 2023 figure of Rs 8,000 per sq.ft. The register does not contain figures for this street for the years 2017, 2012, 2007, 2003, and 2002.

Prior to the 2023 revision, the guideline value for Pillaiyar Koil Lane was not recorded in the register for the aforementioned years. The latest revision signifies a notable adjustment in the property valuation for this area.

Guideline values in Mylapore Part 1

Mylapore Part 1 has a range of guideline values across its 333 streets, with figures for 2024 varying from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for the area is Rs 8,800 per sq.ft, positioning Pillaiyar Koil Lane's 2024 figure below this median.

• Pillaiyar Koil 2nd Street: Rs 8,700 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 8,700 per sq.ft (2024)
• Pillaiyar Koil 1st Street: Rs 8,700 per sq.ft (2024)
• Peters Road: Rs 13,200 per sq.ft (2024)
• Peters Lane: Rs 8,800 per sq.ft (2024)
• Pilliayar Koil Cross Street: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar Koil Lane

For a 1,000 sq.ft plot at the current rate of Rs 8,700 per sq.ft, the guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total to Rs 7,83,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pillaiyar Koil Lane?

The Sub Registrar Office that covers Pillaiyar Koil Lane is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value plays a crucial role in the registration process of property transactions in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer or seller engages in a transaction, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately in the official registers. This helps maintain transparency and consistency in property dealings within the area.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Lane?

The current guideline value of Pillaiyar Koil Lane is Rs 8,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased by 9%, from Rs 8,000 per sq.ft to Rs 8,700 per sq.ft.

What is the land classification for Pillaiyar Koil Lane?

Pillaiyar Koil Lane is classified as Residential Class I Type - III under the Chennai Central Joint I SRO.

What are the stamp duty and registration fees for a property in Pillaiyar Koil Lane?

For a property valued at Rs 87,00,000, the stamp duty would be Rs 6,09,000, and the registration fee would be Rs 1,74,000, totaling Rs 7,83,000.

Which office handles registrations for Pillaiyar Koil Lane?

The Chennai Central Joint I Sub Registrar Office handles registrations for Pillaiyar Koil Lane, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.