Guideline Value for Pillaiyar Koil Street

Pillaiyar Koil Street guideline value

The current guideline value of Pillaiyar Koil Street in Siruniyam village, under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

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 earliest recorded figure is from 2007, with a value of Rs 300 per sq.ft. This was followed by a revision in 2012, where the value increased to Rs 400 per sq.ft. However, there was a decrease in 2017, bringing it down to Rs 268 per sq.ft. The 2023 revision saw a significant increase to Rs 400 per sq.ft, and the most recent revision in 2024 has set the guideline value at Rs 440 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. The overall change from 2007 to 2024 is an increase of 47%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Siruniyam

In Siruniyam, there are 32 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 220 to Rs 1,500 per sq.ft. The median value for these streets is Rs 440 per sq.ft, which is the same as the guideline value for Pillaiyar Koil Street.

• Perumal Koil Street (Siruniyam Colony): Rs 330 per sq.ft (2024)
• Perumal Koil Street: Rs 440 per sq.ft (2024)
• Parthasarathy Nagar Annex: Rs 825 per sq.ft (2024)
• Parthasarathy Nagar: Rs 825 per sq.ft (2024)
• Rehoboth Avenue: Rs 220 per sq.ft (2024)
• Revathi Avenue: Rs 550 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 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, while the registration fee at 2% would be Rs 8,800, bringing the total charges to Rs 39,600. 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?

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 Siruniyam

The guideline value is a crucial factor in the registration process when buying or selling property in Siruniyam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value helps in calculating the stamp duty, which is charged at a percentage of the guideline value or the sale price, whichever is higher. 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 440 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 440 per sq.ft in 2024, with various revisions in between, including decreases and increases in value.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value. For a 1,000 sq.ft plot, the total charges would be Rs 39,600.

Which office handles property registration for Pillaiyar Koil Street?

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

What is the significance of the guideline value in property transactions?

The guideline value is important as it determines the stamp duty and registration fees during property transactions. It acts as a benchmark for property value assessment in the area.