Guideline Value for Pillaiyar Koil Street

Pillaiyar Koil Street guideline value

The current guideline value of Pillaiyar Koil Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - III.

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 register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was set at Rs 8,000 per sq.ft, and in the following 2024 revision, it increased by 9% to Rs 8,700 per sq.ft.

This increase reflects the changes made to the guideline value over the last two years. The 2023 revision of Rs 8,000 per sq.ft was a notable figure before the rise to Rs 8,700 per sq.ft in 2024.

Guideline values in Mylapore Part 1

Pillaiyar Koil Street's 2024 guideline value of Rs 8,700 per sq.ft is below the median guideline value of Rs 8,800 per sq.ft for the 333 streets in Mylapore Part 1 under the Chennai Central Joint I SRO, which range from Rs 4,400 to Rs 25,300 per sq.ft.

• Pillaiyar Koil Lane: Rs 8,700 per sq.ft (2024)
• Pillaiyar Koil 2nd Street: Rs 8,700 per sq.ft (2024)
• Pillaiyar Koil 1st Street: Rs 8,700 per sq.ft (2024)
• Pilliayar Koil Cross Street: Rs 8,700 per sq.ft (2024)
• Peters Road: Rs 13,200 per sq.ft (2024)
• Peters Lane: Rs 8,800 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 8,700 per sq.ft, the total guideline value would be Rs 87,00,000. The stamp duty at 7% would amount to Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total fees to Rs 7,83,000. Duty is charged on the guideline value or the sale price, whichever is higher.

You can also use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Pillaiyar Koil Street?

The Sub Registrar Office that covers Pillaiyar Koil Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a critical factor in property transactions, as it determines the minimum value on which stamp duty and registration fees are calculated. This value is set by the government and is regularly revised to reflect changes in the real estate market.

When buying or selling property in Mylapore Part 1, the guideline value ensures that the transaction is recorded accurately and fairly, based on the current market conditions. It is important for both buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street?

The current guideline value of Pillaiyar Koil Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Pillaiyar Koil Street was Rs 8,000 per sq.ft in 2023 and increased to Rs 8,700 per sq.ft in 2024, reflecting a 9% rise.

What is the land classification for Pillaiyar Koil Street?

The land classification for Pillaiyar Koil Street is Residential Class I Type - III.

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

The Sub Registrar Office for Pillaiyar Koil Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Pillaiyar Koil Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 6,09,000.