Guideline Value for Pillaiyar Koil Street

Pillaiyar Koil Street guideline value

The current guideline value of Pillaiyar Koil Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Vengambakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Pillaiyar Koil Street has changed

The guideline value for Pillaiyar Koil Street has undergone several revisions over the years. The earliest available figure is from 2012, where the guideline value was Rs 500 per sq.ft. This was followed by a decrease to Rs 335 per sq.ft in 2017, marking a decline of 33%. In 2023, the value rose to Rs 500 per sq.ft, and in the latest revision for 2024, it increased to Rs 550 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street in the register.

Guideline values in Vengambakkam

In Vengambakkam, there are 88 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 5,000 per sq.ft. The median guideline value in the village is Rs 770 per sq.ft, positioning Pillaiyar Koil Street's 2024 figure below this median.

• Periyar Street (Continued): Rs 440 per sq.ft (2024)
• Periyar Street: Rs 440 per sq.ft (2024)
• Poonga Street: Rs 440 per sq.ft (2024)
• Rajiv gandhi 1st Main Road: Rs 550 per sq.ft (2024)
• Rajiv gandhi 1st Street: Rs 550 per sq.ft (2024)
• Rajiv gandhi 2nd Main Road: Rs 550 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vengambakkam. It serves as the minimum value for which a property can be registered, ensuring that the transaction is documented at a fair value as determined by the government.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Pillaiyar Koil Street?

The current guideline value for Pillaiyar Koil Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then back to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Pillaiyar Koil Street?

Pillaiyar Koil Street is classified as Residential Class I Type - II under the guideline value register.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Pillaiyar Koil Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 38,500 and the registration fee is Rs 11,000, totaling Rs 49,500. These fees are based on the guideline value or the sale price, whichever is higher.