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 Parangimalai village under the Chennai South Joint II SRO, classified as Residential Class II Type - II.

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 value was Rs 236 per sq.ft, which increased to Rs 320 per sq.ft in 2003, marking a 36% rise. The value further increased to Rs 800 per sq.ft in 2007, reflecting a substantial growth of 150% from the previous revision. The 2012 revision saw a decline, with the value returning to Rs 3,000 per sq.ft, a decrease of 275% from 2007. In 2017, the value rose again to Rs 2,010 per sq.ft, which was a 49% increase from 2012. The most recent revision in 2023 set the value at Rs 3,000 per sq.ft, and the current value for 2024 is Rs 3,300 per sq.ft, showing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,298%. It is important to note that there are no figures available for revisions in the years not listed.

Guideline values in Parangimalai

In Parangimalai village, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft, with the median value being Rs 3,850 per sq.ft. The guideline value for Pillaiyar Koil Street is below this median.

• Perumal Street: Rs 3,300 per sq.ft (2024)
• Polewells Street: Rs 3,850 per sq.ft (2024)
• Police Office Road: Rs 4,400 per sq.ft (2024)
• Police Station Road: Rs 4,400 per sq.ft (2024)
• Perumal Koil Street: Rs 3,850 per sq.ft (2024)
• Periyar Street: Rs 3,850 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, 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 and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pillaiyar Koil Street?

Pillaiyar Koil Street falls under the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Parangimalai. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers and sellers should be aware that the guideline value is set by the Registration Department and reflects the minimum value for property transactions in the area.

When registering a property, the guideline value helps ensure that the transaction is recorded at a fair value, which is crucial for legal and taxation purposes. It is advisable to consult the latest guideline values before proceeding with any 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, increasing from Rs 236 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1,298%.

What are the other streets in Parangimalai with their guideline values?

Other streets in Parangimalai include Perumal Street at Rs 3,300 per sq.ft, Polewells Street at Rs 3,850 per sq.ft, and Police Office Road at Rs 4,400 per sq.ft, among others.

How is stamp duty calculated for property 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, the total stamp duty and registration fee would amount to Rs 2,97,000.

Where can I find my Sub Registrar Office?

The Sub Registrar Office covering Pillaiyar Koil Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find more information by visiting the relevant link.