Guideline Value for Pillaiyar Koil North Street

Pillaiyar Koil North Street guideline value

The current guideline value of Pillaiyar Koil North Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village under the Virugambakkam SRO, classified as Residential Class II Type - I.

How the guideline value of Pillaiyar Koil North Street has changed

The guideline value for Pillaiyar Koil North Street has undergone several revisions over the years. In 2002, the value was Rs 480 per sq.ft, which increased to Rs 525 per sq.ft in 2003, marking a 9% rise. The value saw a significant jump to Rs 850 per sq.ft in 2007, representing a 62% increase. By 2012, the value was revised to Rs 4,000 per sq.ft, reflecting a substantial 371% increase from the previous revision. However, it dropped by 33% to Rs 2,680 per sq.ft in 2017. The guideline value then increased to Rs 4,000 per sq.ft in 2023, followed by a 10% increase to the current value of Rs 4,400 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 817%. The register has no figure for the years not mentioned in the revisions.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the current guideline value of Pillaiyar Koil North Street.

• Pillaiyar Koil sannathi Street: Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 5,500 per sq.ft (2024)
• Perumal Koil Street: Rs 4,400 per sq.ft (2024)
• Ponnammal Street: Rs 4,400 per sq.ft (2024)
• Perumal Koil South Street: Rs 4,950 per sq.ft (2024)
• Perumal Koil South lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar Koil North Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pillaiyar Koil North Street?

The Sub Registrar Office that covers Pillaiyar Koil North Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process for property transactions in Saligramam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, it is important to be aware of the guideline value as it influences the overall cost of the transaction. Buyers should ensure that the sale price is not below the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil North Street?

The current guideline value of Pillaiyar Koil North Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 480 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 817% over the years.

What is the land classification for Pillaiyar Koil North Street?

Pillaiyar Koil North Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Pillaiyar Koil North Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

The stamp duty for properties in Pillaiyar Koil North Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees can amount to Rs 3,96,000.