Guideline Value for Pillaiyar Koil Street (East Banu Nagar)

Pillaiyar Koil Street (East Banu Nagar) guideline value

The current guideline value of Pillaiyar Koil Street (East Banu Nagar) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village and falls under the Ambattur SRO. The land is classified as Residential Special Type - II.

How the guideline value of Pillaiyar Koil Street (East Banu Nagar) has changed

The guideline value for Pillaiyar Koil Street (East Banu Nagar) has seen several revisions over the years. In 2007, the value was Rs 605 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, this figure dropped to Rs 1,340 per sq.ft in 2017. Following this, the value rose sharply to Rs 2,000 per sq.ft in 2023, and finally, it is now set at Rs 2,200 per sq.ft as of the 2024 revision. Notably, there are no figures available for this street in the 2002 and 2003 revisions.

From 2007 to 2012, the value increased by 231%, but then decreased by 33% from 2012 to 2017. A substantial increase of 49% occurred from 2017 to 2023, followed by a further 10% rise from 2023 to 2024. Overall, the guideline value has increased by 264% from 2007 to 2024.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equivalent to the current guideline value of Pillaiyar Koil Street (East Banu Nagar).

• Pillaiyar Koil Street 11 th Ward (Vinayagapuram): Rs 2,400 per sq.ft (2024)
• Pillaiyar Koil Street (Pudur): Rs 1,900 per sq.ft (2024)
• Pillaiyar Koil Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Pillaiyar Koil Street V.L.Puram: Rs 2,400 per sq.ft (2024)
• Pillaiyar Kovil Street(S.No.69): Rs 1,100 per sq.ft (2024)
• Pillaiyar Kovil Street(V.L. Puram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar Koil Street (East Banu Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Pillaiyar Koil Street (East Banu Nagar)?

The Sub Registrar Office that covers Pillaiyar Koil Street (East Banu Nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Oragadam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees are calculated based on this value.

When a property is sold, the guideline value is compared to the sale price. The higher of the two figures is used to calculate the stamp duty and registration fees, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street (East Banu Nagar)?

The current guideline value of Pillaiyar Koil Street (East Banu Nagar) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 605 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 264% over this period.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Pillaiyar Koil Street (East Banu Nagar)?

The Ambattur Sub Registrar Office handles registrations for Pillaiyar Koil Street (East Banu Nagar), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the median guideline value for streets in Oragadam?

The median guideline value for streets in Oragadam is Rs 2,200 per sq.ft, which is the same as the current guideline value for Pillaiyar Koil Street (East Banu Nagar).