Guideline Value for Pillaiyar Koil Street

Pillaiyar Koil Street guideline value

The current guideline value of Pillaiyar Koil Street in Kanagam village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Adayar 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 undergone several revisions over the years. In 2002, the guideline value was Rs 211 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2003. This was followed by a substantial rise to Rs 2,100 per sq.ft in 2007, and then to Rs 3,000 per sq.ft in 2012. However, the value decreased to Rs 2,010 per sq.ft in 2017 before climbing back to Rs 3,000 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,464%. The register has no figure for the years not listed above.

Guideline values in Kanagam

In Kanagam, there are 15 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 13,800 per sq.ft, with a median value of Rs 2,800 per sq.ft. Pillaiyar Koil Street's 2024 figure of Rs 3,300 per sq.ft is above this median.

• Periyar Street: Rs 2,800 per sq.ft (2024)
• Nethaji Street: Rs 3,300 per sq.ft (2024)
• Nehru Street: Rs 3,900 per sq.ft (2024)
• Lal Bahadur Street: Rs 2,800 per sq.ft (2024)
• Kattabomman Street: Rs 2,800 per sq.ft (2024)
• Kanagam Road: Rs 3,900 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 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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 more details.

Which Sub Registrar Office covers Pillaiyar Koil Street?

The Sub Registrar Office that covers Pillaiyar Koil Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Kanagam. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property. The fees are calculated based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

When engaging in a property transaction, it is essential to be aware of the current guideline value, as it directly impacts the costs involved in the registration process. Buyers and sellers should consult the guideline value register to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street?

The current guideline value of Pillaiyar Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 211 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1,464% over this period.

What is the land classification for Pillaiyar Koil Street?

Pillaiyar Koil Street is classified as Residential Class II Type - I, indicating its use for residential purposes.

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

The Sub Registrar Office for Pillaiyar Koil Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, the total fees for a 1,000 sq.ft plot at the current guideline value would amount to Rs 2,97,000.