Guideline Value for Pillaiyar Koil Street

Pillaiyar Koil Street guideline value

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

How the guideline value of Pillaiyar Koil Street has changed

The guideline value for Pillaiyar Koil Street has seen significant changes over the years. The 2003 revision set the value at Rs 629 per sq.ft, which increased to Rs 800 per sq.ft in 2007, marking a 27% rise. Following this, the value surged to Rs 3,500 per sq.ft in 2012, reflecting a remarkable increase of 338%. However, it then decreased by 33% to Rs 2,345 per sq.ft in 2017. The value rose again to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,850 per sq.ft in 2024, which is a 10% increase from the previous year.

Notably, the register has no figure for this street in 2002. Overall, from 2003 to 2024, the guideline value has increased by 512%.

Guideline values in Cantonment Pallavaram

Cantonment Pallavaram features a range of guideline values, with 81 streets under the Pallavaram SRO carrying a 2024 figure from Rs 1,650 to Rs 11,000 per sq.ft. The median value is Rs 2,700 per sq.ft, placing Pillaiyar Koil Street's 2024 figure above that median.

• Police Lane: Rs 2,700 per sq.ft (2024)
• Poniyamman Koil Street: Rs 2,700 per sq.ft (2024)
• Periya Palayathamman Koil Street: Rs 3,300 per sq.ft (2024)
• Pensioners Road & Street: Rs 1,650 per sq.ft (2024)
• Prince Street: Rs 2,700 per sq.ft (2024)
• Puviamman Koil Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar Koil Street

For a 1,000 sq.ft plot at the current rate, 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, totaling Rs 3,46,500. 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?

The Sub Registrar Office that covers Pillaiyar Koil Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Cantonment Pallavaram. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property sales.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is fair and transparent, reflecting the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street?

The current guideline value of Pillaiyar Koil Street 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 629 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024, representing an overall increase of 512% over this period.

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

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 3,46,500, based on the current guideline value of Rs 38,50,000.

Which Sub Registrar Office covers Pillaiyar Koil Street?

The Pallavaram Sub Registrar Office covers Pillaiyar Koil Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the median guideline value in Cantonment Pallavaram?

The median guideline value in Cantonment Pallavaram is Rs 2,700 per sq.ft, with Pillaiyar Koil Street's current value exceeding this median.