Guideline Value for Pillaiyar Koil Street

Pillaiyar Koil Street guideline value

The current guideline value of Pillaiyar Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kolapakkam village under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Pillaiyar Koil Street has changed

The guideline value for Pillaiyar Koil Street has seen several revisions over the years. In the 2017 revision, the value was set at Rs 1,340 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Kolapakkam

In Kolapakkam village, there are 111 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 6,850 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the current guideline value for Pillaiyar Koil Street.

• Perumal Koil Street (ward 4): Rs 2,200 per sq.ft (2024)
• Poomalai: Rs 3,300 per sq.ft (2024)
• Prabha Garden (ward 5): Rs 1,650 per sq.ft (2024)
• Pattammal Nagar: Rs 1,650 per sq.ft (2024)
• Radhakrishnan Nagar: Rs 1,980 per sq.ft (2024)
• Pallavaram Main Road (ward 6): Rs 2,200 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 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Pillaiyar Koil Street?

The Sub Registrar Office that covers Pillaiyar Koil Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration of property transactions in Kolapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for completing the transaction. This helps in maintaining a standard procedure for property registration in the region.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street?

The current guideline value of Pillaiyar Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64% over these years.

What is the land classification of Pillaiyar Koil Street?

Pillaiyar Koil Street is classified as Residential Class II Type - I according to the local guidelines.

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

The Pammal Sub Registrar Office covers Pillaiyar Koil Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties in Kolapakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at the rate of 7%.