Guideline Value for Pillaiyar Koil Street

Pillaiyar Koil Street guideline value

The current guideline value of Pillaiyar Koil Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Tharapakkam village under the Pammal SRO, 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 several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent 2024 revision has further increased the value to Rs 1,100 per sq.ft, reflecting a 10% increase from 2023. The register has no figure for this street for the years 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The consistent upward trend in the guideline value indicates the changing landscape of property values in the area.

Guideline values in Tharapakkam

In Tharapakkam village, there are 47 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,000 per sq.ft. The median value of these streets is Rs 1,100 per sq.ft, which is equal to the 2024 guideline value of Pillaiyar Koil Street.

• Perumal Koil Street: Rs 1,100 per sq.ft (2024)
• Raja Koil Street (Ward 6): Rs 1,100 per sq.ft (2024)
• Raja Koil Street (ward 9): Rs 1,100 per sq.ft (2024)
• R.G.M Nagar: Rs 1,100 per sq.ft (2024)
• M.G.R. Street: Rs 880 per sq.ft (2024)
• Mettu Street: Rs 880 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 guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty is calculated at 7%, which totals Rs 77,000, and the registration fee is 2%, amounting to Rs 22,000. Therefore, the total cost for stamp duty and registration fees together is Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pillaiyar Koil Street?

Pillaiyar Koil Street falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. To find your specific SRO, visit find your SRO.

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

The guideline value plays a crucial role during property registration in Tharapakkam. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value. Buyers and sellers must be aware of the guideline value to avoid discrepancies during the registration process.

When buying or selling property, it is essential to consider the guideline value as it impacts the stamp duty and registration fees. These costs are calculated based on the guideline value or the sale price, whichever is higher, making it vital for both parties to understand the implications of the guideline value in their transactions.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street?

The current guideline value of Pillaiyar Koil Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 64% over these years.

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.

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

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

How is stamp duty calculated for properties in Tharapakkam?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.