Guideline Value for Pillaiyar Koil Street

Pillaiyar Koil Street guideline value

The current guideline value of Pillaiyar Koil Street in Grandlyon village, under the Redhills SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

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 2007, the value was Rs 300 per sq.ft, which increased to Rs 600 per sq.ft in 2012, marking a significant rise of 100%. However, this value decreased by 33% to Rs 402 per sq.ft in 2017. The 2023 revision saw a notable increase to Rs 600 per sq.ft, which was then revised to Rs 660 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Grandlyon

In Grandlyon, there are 82 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft. The median value is Rs 660 per sq.ft, which is equal to the current value of Pillaiyar Koil Street.

• Paramasivam Street: Rs 660 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 660 per sq.ft (2024)
• N.V.N. Somu Street: Rs 660 per sq.ft (2024)
• N.S.K Street: Rs 880 per sq.ft (2024)
• New Star City Diamond Annex: Rs 880 per sq.ft (2024)
• New Star City Diamond: Rs 515 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 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Pillaiyar Koil Street?

The Sub Registrar Office that covers Pillaiyar Koil Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Grandlyon. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the stamp duty, which is a mandatory fee. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street?

The current guideline value of Pillaiyar Koil Street is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 46,200, and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which Sub Registrar Office covers Pillaiyar Koil Street?

The Redhills Sub Registrar Office covers Pillaiyar Koil Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It acts as a benchmark for calculating these fees, ensuring compliance with local regulations.