Guideline Value for Pillaiyar Koil Street

Pillaiyar Koil Street guideline value

The current guideline value of Pillaiyar Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Tharamani village, under the Adayar 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. In 2002, the value was Rs 175 per sq.ft, which increased to Rs 450 per sq.ft in 2003, marking a significant rise of 157%. The value continued to climb, reaching Rs 1,250 per sq.ft in 2007, an increase of 178%. In 2012, it was recorded at Rs 3,000 per sq.ft, reflecting a decrease of 33% from the previous revision. The value then saw a rise to Rs 2,010 per sq.ft in 2017, which was a 49% increase. The most recent revision in 2023 set the value at Rs 3,000 per sq.ft, and the current revision in 2024 has raised it to Rs 3,300 per sq.ft, a 10% increase.

There are no figures available for any other revisions for this street. Overall, from 2002 to 2024, the guideline value has increased by an impressive 1,786%.

Guideline values in Tharamani

In Tharamani, there are 78 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,800 per sq.ft. The median value is Rs 2,800 per sq.ft, placing Pillaiyar Koil Street's 2024 figure above this median.

• Perumal Koil Street: Rs 2,800 per sq.ft (2024)
• Periyar Street: Rs 3,300 per sq.ft (2024)
• Peeli Amman Koil Street: Rs 3,300 per sq.ft (2024)
• Radhakrishnan Street: Rs 2,800 per sq.ft (2024)
• Pandiyan Street: Rs 2,800 per sq.ft (2024)
• Pammal Nallathambi Street: 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 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. It is important to note that the duty is charged on the higher of the guideline value or 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 Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Tharamani. It is used as a benchmark to determine the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is utilized for calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

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 has the guideline value changed over the years?

The guideline value has increased from Rs 175 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1,786% over the years.

What is the median guideline value in Tharamani?

The median guideline value in Tharamani is Rs 2,800 per sq.ft, which is lower than the current value of Pillaiyar Koil Street.

What are the stamp duty and registration fees for properties here?

The stamp duty is charged at 7%, and the registration fee is at 2%. For a property valued at Rs 33,00,000, the total fees would be Rs 2,97,000.

Where is the Sub Registrar Office for Pillaiyar Koil Street located?

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