Guideline Value for Pillaiyar Koil Street (Nesappakkam)

Pillaiyar Koil Street (Nesappakkam) guideline value

The current guideline value of Pillaiyar Koil Street (Nesappakkam) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - III.

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

The guideline value for Pillaiyar Koil Street (Nesappakkam) has seen significant changes over the years. In 2007, the guideline value was Rs 620 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in 2017. The value then rose to Rs 2,500 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 2,700 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The latest revision from 2023 to 2024 reflects an increase of 8%. Overall, from 2007 to 2024, the guideline value has increased by 335%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Pillaiyar Koil Street (Nesappakkam) below this median.

• Pillaiyar Koil Street (Muttu Lane): Rs 4,900 per sq.ft (2024)
• Pillaiyar Koil Street (Vadapalani): Rs 4,900 per sq.ft (2024)
• Pillaiyar Koil Street (Kasikulam): Rs 5,500 per sq.ft (2024)
• Pillaiyar Koil Street (JPT): Rs 5,500 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 (Nesappakkam)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Pillaiyar Koil Street (Nesappakkam) is the Ashok Nagar Sub Registrar Office. The address is Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the 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 factor when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is used to calculate the stamp duty, which is charged at a specific percentage of the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Pillaiyar Koil Street (Nesappakkam) is Rs 2,700 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 2,700 per sq.ft in 2024, with various revisions in between. The most notable increase was from 2017 to 2023, where it rose by 49%.

What is the median guideline value for streets in Kodambakkam?

The median guideline value for the 1,031 streets in Kodambakkam under the Ashok Nagar SRO is Rs 4,900 per sq.ft. Pillaiyar Koil Street (Nesappakkam) is below this median value.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is an additional 2% of the guideline value.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.