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 2 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Pillaiyar Koil Lane has changed

The guideline value for Pillaiyar Koil Lane has seen several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 8,000 per sq.ft, which increased by 9% to Rs 8,700 per sq.ft in the 2024 revision.

This increase reflects the changes made in the guideline value, with the 2024 figure being the most current. The transition from Rs 8,000 in 2023 to Rs 8,700 in 2024 indicates a notable adjustment in the valuation for this street.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Pillaiyar Koil Lane's 2024 figure below that 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 guideline value of Rs 8,700 per sq.ft, the total guideline value would be Rs 87,00,000. The stamp duty at 7% would amount to Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total to Rs 7,83,000. Please note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

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 details.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a crucial factor when buying or selling property in Mylapore Part 2. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers should be aware that these costs can significantly affect the overall expense of acquiring property.

When registering a property, the guideline value serves as a benchmark for valuation. It ensures that the transaction is recorded accurately and that the appropriate taxes are collected based on the established rates.

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?

The guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, reflecting a 9% increase.

What is the land classification for Pillaiyar Koil Lane?

Pillaiyar Koil Lane is classified as Residential Class I Type - III, indicating its designation for residential use.

What are the stamp duty rates for property in Pillaiyar Koil Lane?

The stamp duty for property in Pillaiyar Koil Lane is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Pillaiyar Koil Lane?

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