Guideline Value for Pillaiyar Koil Street

Pillaiyar Koil Street guideline value

The current guideline value of Pillaiyar Koil Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Sholavaram village under the Redhills SRO, classified as Residential Special 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 600 per sq.ft, which increased by 100% to Rs 1,200 per sq.ft in 2012. However, it then decreased by 33% to Rs 804 per sq.ft in 2017. Following this, the value rose significantly by 49% to Rs 1,200 per sq.ft in 2023, and then increased by 10% to the current value of Rs 1,320 per sq.ft in 2024. The register has no figure for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 120%. The changes in the guideline value reflect the revisions made in the years 2017, 2023, and 2024, showcasing the fluctuations in property valuation over time.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft, with a median value of Rs 660 per sq.ft. Pillaiyar Koil Street's 2024 guideline value of Rs 1,320 per sq.ft is above this median.

• Perumal Koil Street: Rs 660 per sq.ft (2024)
• Periyar Street: Rs 1,320 per sq.ft (2024)
• Puthar Street: Rs 550 per sq.ft (2024)
• Rajaraja Chozhan Pudhu Nagar Part-II: Rs 550 per sq.ft (2024)
• Rajaraja Chozhan Puthu Nagar: Rs 550 per sq.ft (2024)
• Ovaiyar Street: Rs 770 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total cost for these fees Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pillaiyar Koil Street?

Pillaiyar Koil Street falls under the jurisdiction of 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 Sholavaram

The guideline value is a crucial reference point used during the registration of property transactions in Sholavaram. It helps determine the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher value is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue from 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 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting a total increase of 120% over the years.

What is the land classification for Pillaiyar Koil Street?

Pillaiyar Koil Street is classified as Residential Special Type - I under the Redhills SRO.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in this area is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Pillaiyar Koil Street?

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