Guideline Value for Pillaiyar Koil Street

Pillaiyar Koil Street guideline value

The current guideline value of Pillaiyar Koil Street is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Panchetty village and falls under the Redhills SRO, classified as Residential Class II Type - I.

How the guideline value of Pillaiyar Koil Street has changed

The guideline value for Pillaiyar Koil Street has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased to Rs 400 per sq.ft in 2012. However, it dropped to Rs 268 per sq.ft in 2017, before returning to Rs 400 per sq.ft in both 2023 and the latest 2024 revision. Notably, there are no figures available for the years 2002 and 2003.

From 2017 to 2023, the value increased by 49%, while from 2012 to 2017, it decreased by 33%. The overall change from 2007 to 2024 shows a 100% increase in the guideline value. The current rate of Rs 400 per sq.ft remains unchanged from the previous year.

Guideline values in Panchetty

Panchetty village has 46 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 1,600 per sq.ft, with a median value of Rs 1,000 per sq.ft. Pillaiyar Koil Street's 2024 figure is below this median.

• Perumal Koil Street: Rs 1,000 per sq.ft (2024)
• Ponneri Salai: Rs 400 per sq.ft (2024)
• Ponniamman Koil Street: Rs 400 per sq.ft (2024)
• Neudvarambakkam Salai: Rs 1,000 per sq.ft (2024)
• Nehru Street: Rs 1,000 per sq.ft (2024)
• R.K Avenue: Rs 300 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 400 per sq.ft, the guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our 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 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 Panchetty

The guideline value is a crucial factor when registering property transactions in Panchetty. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in assessing the official value of the property, which is necessary for legal documentation. Buyers and sellers should be aware of the current guideline value to avoid 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 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then dropped to Rs 268 per sq.ft in 2017, before returning to Rs 400 per sq.ft in 2023 and 2024.

What is the stamp duty rate for properties on Pillaiyar Koil Street?

The stamp duty rate for properties on Pillaiyar Koil Street is 7% of the guideline value or the sale price, whichever is higher.

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

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

How is the guideline value determined for properties in Panchetty?

The guideline value for properties in Panchetty is determined by the Registration Department's guideline value register, which is revised periodically based on various factors.