Guideline Value for Pillaiyar Koil Street

Pillaiyar Koil Street guideline value

The current guideline value of Pillaiyar Koil Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Pillaiyar Koil Street has changed

The guideline value for Pillaiyar Koil Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 368 per sq.ft. This value saw a significant increase to Rs 4,500 per sq.ft in 2012, marking an increase of 1,123%. However, the value then decreased to Rs 3,015 per sq.ft in 2017, reflecting a decrease of 33%. The 2023 revision set the value at Rs 4,500 per sq.ft, which was a substantial increase of 49% from the previous figure. The most recent revision in 2024 has raised the guideline value to Rs 4,950 per sq.ft, a 10% increase from 2023.

It is important to note that there are no recorded figures for Pillaiyar Koil Street in the years 2003 and 2007. Overall, from 2002 to 2024, the guideline value has increased by 1,245%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, positioning Pillaiyar Koil Street's 2024 value above this median.

• Pillaiyar Koil Street Extn now known as Nethaji Road/Street, (Ganesh Nagar): Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil Street / Lailtha Nagar / Annai Inidra Nagar: Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil Street (Maduvankarai): Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil Lane: Rs 4,950 per sq.ft (2024)
• Philip Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar, Telephone Colony Street: Rs 3,850 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 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, making the total cost for these fees Rs 4,45,500. 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 accurate estimates.

Which Sub Registrar Office covers Pillaiyar Koil Street?

The Sub Registrar Office that covers Pillaiyar Koil Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Velachery. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value, as it influences the overall cost of the transaction. Accurate knowledge of these values ensures compliance with legal requirements and helps in making informed decisions during 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 4,950 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 368 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 1,245%.

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 and registration fees would amount to Rs 4,45,500.

Which Sub Registrar Office covers Pillaiyar Koil Street?

The Velacheri Sub Registrar Office covers Pillaiyar Koil Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Pillaiyar Koil Street?

The land classification for Pillaiyar Koil Street is Residential Class II Type - I.