Guideline Value for Pillaiyar Koil Street (Vadapalani)

Pillaiyar Koil Street (Vadapalani) guideline value

The current guideline value of Pillaiyar Koil Street (Vadapalani) is Rs 4,900 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 III Type - II.

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

Over the years, the guideline value of Pillaiyar Koil Street (Vadapalani) has experienced several revisions. In 2007, the guideline value was Rs 1,210 per sq.ft, which saw a significant increase to Rs 4,500 per sq.ft in 2012. However, this was followed by a decrease to Rs 3,015 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 4,500 per sq.ft, and the latest revision in 2024 has set the value at Rs 4,900 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 for this street.

In terms of percentage changes, the guideline value increased by 272% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects an increase of 9%. Overall, from 2007 to 2024, the guideline value has increased by 305%.

Guideline values in Kodambakkam

Kodambakkam village features a range of guideline values across its 1,031 streets under the Ashok Nagar SRO, with figures ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for the area is Rs 4,900 per sq.ft, which is equal to the current guideline value of Pillaiyar Koil Street (Vadapalani).

• Pillaiyar Koil Street (Nesappakkam): Rs 2,700 per sq.ft (2024)
• Pillaiyar Koil Street (Muttu Lane) (JPT): 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 (Vadapalani)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty, charged at 7%, would be Rs 3,43,000, while the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

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

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that transactions are conducted at a fair value as determined by the Registration Department.

When a property is sold, the buyer and seller must consider the guideline value to ensure compliance with legal requirements. The registration office will use this value to assess the applicable duties, which are mandatory for the completion of the property transfer process.

Frequently asked questions

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

The current guideline value of Pillaiyar Koil Street (Vadapalani) is Rs 4,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,210 per sq.ft to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 305% over the years.

What is the land classification for Pillaiyar Koil Street (Vadapalani)?

The land classification for Pillaiyar Koil Street (Vadapalani) is Residential Class III Type - II.

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

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000, and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which Sub Registrar Office handles transactions for this street?

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