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 Issa 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 undergone several revisions over the years. Starting from Rs 832 per sq.ft in 2003, it increased to Rs 1,000 per sq.ft in 2007, reflecting a 20% rise. The value then surged to Rs 3,500 per sq.ft in 2012, marking a significant increase of 250%. However, it decreased to Rs 2,345 per sq.ft in 2017, a decline of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, followed by the current value of Rs 3,850 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figure for this street for the year 2002.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Pillaiyar Koil Street's 2024 figure above this median.

• Ponds Colony/Company: Rs 4,400 per sq.ft (2024)
• Periyapalaiyathamman Koil St.(E): Rs 3,300 per sq.ft (2024)
• P.P.Amman Koil St, Western Portion: Rs 3,300 per sq.ft (2024)
• Pudu Street: Rs 4,400 per sq.ft (2024)
• Purusothaman Street: Rs 3,300 per sq.ft (2024)
• Pammal Road (MAIN): Rs 4,400 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 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, bringing the total to Rs 3,46,500. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Pillaiyar Koil Street?

The Sub Registrar Office covering 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 Issa Pallavaram

The guideline value plays a crucial role in property transactions in Issa Pallavaram. It serves as the basis for calculating stamp duty and registration fees when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When registering a property, the guideline value is used to determine the financial obligations of both parties involved in the transaction. This ensures that the appropriate taxes are paid, reflecting the property's value as defined by the local authorities.

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 from Rs 832 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 363% over this period.

What is the land classification for Pillaiyar Koil Street?

Pillaiyar Koil Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Pillaiyar Koil Street is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for this street?

The Sub Registrar Office for Pillaiyar Koil Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.