Guideline Value for Pillaiyar Koil Street (Kasikulam)

Pillaiyar Koil Street (Kasikulam) guideline value

The current guideline value of Pillaiyar Koil Street (Kasikulam) is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class III Type - I.

How the guideline value of Pillaiyar Koil Street (Kasikulam) has changed

The guideline value for Pillaiyar Koil Street (Kasikulam) has seen significant changes over the years. In the 2007 revision, the value was Rs 620 per sq.ft, which increased dramatically to Rs 5,000 per sq.ft in 2012, marking a rise of 706%. However, it then decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The value continued to rise to Rs 5,000 per sq.ft in 2023, and now stands at Rs 5,500 per sq.ft in 2024, reflecting a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, positioning Pillaiyar Koil Street (Kasikulam) above this median.

• Pillaiyar Koil Street (JPT): Rs 5,500 per sq.ft (2024)
• Pillaiyar Koil Street (Muttu Lane) (JPT): Rs 4,900 per sq.ft (2024)
• Pillaiyar Koil Street (Nesappakkam): Rs 2,700 per sq.ft (2024)
• Pillaiyar Koil Street (Vadapalani): Rs 4,900 per sq.ft (2024)
• Pilliaiyar Koil Street Block 91, 92: Rs 5,500 per sq.ft (2024)
• Pillaiyar Koil 3rd Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar Koil Street (Kasikulam)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost for these fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pillaiyar Koil Street (Kasikulam)?

The Sub Registrar Office that covers Pillaiyar Koil Street (Kasikulam) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial aspect when buying or selling property in Kodambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. This ensures that the government receives appropriate revenue through stamp duty and registration fees based on the guideline value.

When a buyer and seller agree on a sale price, the higher of the sale price or the guideline value is used to calculate the applicable duties. This means that even if a property is sold for less than the guideline value, the duty will still be based on the guideline value, ensuring that the transaction meets regulatory requirements.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street (Kasikulam)?

The current guideline value of Pillaiyar Koil Street (Kasikulam) is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 620 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 787% over the years.

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

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles registrations for Pillaiyar Koil Street (Kasikulam)?

The Ashok Nagar Sub Registrar Office handles registrations for Pillaiyar Koil Street (Kasikulam), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the significance of the guideline value in property transactions?

The guideline value serves as a minimum price for property registration, ensuring that the government receives appropriate revenue through stamp duty and registration fees based on this value.