Guideline Value for Pillaiyar Koil Street

Pillaiyar Koil Street guideline value

The current guideline value of Pillaiyar Koil Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, and it 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. In 2007, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, this figure dropped to Rs 2,680 per sq.ft in 2017, before rising to Rs 4,000 per sq.ft again in 2023. The latest revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 267%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value, ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the current value of Pillaiyar Koil Street.

• Pidariyar Kovil Street: Rs 8,800 per sq.ft (2024)
• Pidariyar Kovil Lane: Rs 4,400 per sq.ft (2024)
• Pidariyar Kovil 2nd Lane: Rs 4,400 per sq.ft (2024)
• Pidariyar Kovil 1st Lane: Rs 4,400 per sq.ft (2024)
• Pethu Naicken Street (Park Town): Rs 13,000 per sq.ft (2024)
• Pethu Naicken Street (Kondithope): Rs 6,000 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 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that 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 details.

Which Sub Registrar Office covers Pillaiyar Koil Street?

The Sub Registrar Office covering Pillaiyar Koil Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately with the appropriate fees calculated based on the established rates. This process is essential for maintaining transparency and legality in property dealings.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street?

The current guideline value of Pillaiyar Koil Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, with several revisions in between, including a drop to Rs 2,680 per sq.ft in 2017.

What are the guideline values of other streets in Muthiyalpet?

Other streets in Muthiyalpet have varying guideline values, with rates ranging from Rs 3,800 to Rs 16,500 per sq.ft. Notably, Pidariyar Kovil Street is valued at Rs 8,800 per sq.ft in 2024.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 44,00,000. The stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for Pillaiyar Koil Street?

The Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, handles registrations for Pillaiyar Koil Street.