Guideline Value for Pillaiyar Koil Street

Pillaiyar Koil Street guideline value

The current guideline value of Pillaiyar Koil Street in Moovarasampattu village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Alandur 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 seen significant changes over the years. In 2002, the guideline value was Rs 171 per sq.ft. This increased to Rs 188 per sq.ft in 2003, marking a 10% rise. By 2007, the value surged to Rs 400 per sq.ft, reflecting a 113% increase. The value continued to rise, reaching Rs 3,000 per sq.ft in 2012, which represented a substantial 650% increase from the previous revision. However, it then dropped to Rs 2,010 per sq.ft in 2017, showing a decrease of 33%.

From 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, which is a 49% rise. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year. There are no figures available for revisions in years other than those mentioned.

Guideline values in Moovarasampattu

In Moovarasampattu, there are 68 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current value for Pillaiyar Koil Street.

• Raghava Nagar 10th Street: Rs 4,400 per sq.ft (2024)
• Raghava Nagar 11th Street: Rs 4,400 per sq.ft (2024)
• Raghava Nagar 12th Street: Rs 4,400 per sq.ft (2024)
• Raghava Nagar 13th Street: Rs 4,400 per sq.ft (2024)
• Raghava Nagar 1st Main road: Rs 4,400 per sq.ft (2024)
• Raghava Nagar 1st Main road Extension: Rs 4,400 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. It is important to note that 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 Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

When buying or selling property in Moovarasampattu, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is used as a benchmark to calculate these fees, ensuring that the transaction is recorded accurately and fairly within the legal framework.

It is essential for buyers and sellers to be aware of the current guideline value, as it can influence the overall cost of the transaction. Understanding the guideline value helps in budgeting for the additional expenses that come with property transactions.

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 changed significantly from Rs 171 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1830% over the years.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

Which office handles property registrations for Pillaiyar Koil Street?

The Alandur Sub Registrar Office handles property registrations for Pillaiyar Koil Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions, ensuring that the transaction is recorded accurately within the legal framework.