Guideline Value for Pillaiyar Koil Street, Bajanai Koil Street

Pillaiyar Koil Street, Bajanai Koil Street guideline value

The current guideline value of Pillaiyar Koil Street, Bajanai Koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of Pillaiyar Koil Street, Bajanai Koil Street has changed

The register has no figures for the years 2002, 2003, 2007, 2012, and 2017 for Pillaiyar Koil Street. In the 2023 revision, the guideline value was set at Rs 2,500 per sq.ft. The 2024 revision saw an increase of 10%, bringing the current guideline value to Rs 2,750 per sq.ft.

With the 2024 revision, Pillaiyar Koil Street's guideline value aligns with the median value of Rs 2,750 per sq.ft for the 1,823 streets in Madipakkam-1 under the Velacheri SRO. The previous value of Rs 2,500 per sq.ft in 2023 reflects a significant change in the guideline value.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values range from Rs 1,650 to Rs 5,500 per sq.ft, with the median value being Rs 2,750 per sq.ft. Pillaiyar Koil Street's current guideline value matches this median.

• Pillaiyar Koil Street,Jayalakshmi Street: Rs 2,750 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil Cross Street: Rs 2,200 per sq.ft (2024)
• Perundevi Street: Rs 2,200 per sq.ft (2024)
• Perumal Nagar: Rs 2,200 per sq.ft (2024)
• Ponniamman koil 1st Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar Koil Street, Bajanai Koil Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 27,50,000. The stamp duty at 7% amounts to Rs 1,92,500, and the registration fee at 2% is Rs 55,000, totaling Rs 2,47,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pillaiyar Koil Street, Bajanai Koil Street?

The Sub Registrar Office that covers Pillaiyar Koil Street, Bajanai Koil Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in property transactions in Madipakkam-1, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

It is important to note that the guideline value may vary from street to street, reflecting the local real estate market conditions. Buyers and sellers should always refer to the latest guideline value to ensure accurate financial planning during property transactions.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street?

The current guideline value of Pillaiyar Koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017 for this street.

What is the land classification of Pillaiyar Koil Street?

Pillaiyar Koil Street is classified as Residential Class I Type - III. This classification is important for understanding the type of development allowed in the area.

Where can I find the Sub Registrar Office for Pillaiyar Koil Street?

The Sub Registrar Office for Pillaiyar Koil Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 at the rate of 7%.