Guideline Value for Pillaiyar Koil Street Extension

Pillaiyar Koil Street Extension guideline value

The current guideline value of Pillaiyar Koil Street Extension is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village, under the Virugambakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Pillaiyar Koil Street Extension has changed

The guideline value for Pillaiyar Koil Street Extension has undergone several revisions over the years. In 2002, the guideline value was Rs 245 per sq.ft. It increased to Rs 270 per sq.ft in 2003, marking a 10% rise. The value then saw a significant jump to Rs 1,100 per sq.ft in 2007, which was a 307% increase. Following this, the value rose to Rs 3,500 per sq.ft in 2012, reflecting a 218% increase. However, the value decreased to Rs 2,345 per sq.ft in 2017, a drop of 33%. The most recent revisions show an increase to Rs 3,500 per sq.ft in 2023, followed by a further rise to Rs 3,850 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,471%. There are no figures available for the revisions in years other than those mentioned.

Guideline values in Nesapakkam

Nesapakkam has a total of 148 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Pillaiyar Koil Street Extension above this median.

• Pillaiyar Koil Street: Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Pillaiyar Koil 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Ponnammal Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Ponnammal Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Ponnammal Nagar Main Road: Rs 2,750 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000. Together, the total cost for stamp duty and registration fee would be Rs 3,46,500. It is important to note that the 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 details.

Which Sub Registrar Office covers Pillaiyar Koil Street Extension?

The Sub Registrar Office that covers Pillaiyar Koil Street Extension 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 Nesapakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Nesapakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers should be aware that the guideline value is used to calculate these costs, ensuring compliance with local regulations.

When a property is sold, the guideline value helps ascertain the minimum value for which the property can be registered. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Pillaiyar Koil Street Extension is Rs 3,850 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 245 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 1,471% over this period.

What is the median guideline value in Nesapakkam?

The median guideline value in Nesapakkam is Rs 3,300 per sq.ft, with Pillaiyar Koil Street Extension having a value above this median.

What are the stamp duty and registration fees for property in Pillaiyar Koil Street Extension?

For a 1,000 sq.ft plot, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500 based on the current guideline value.

Where is the Sub Registrar Office for Pillaiyar Koil Street Extension located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.