Guideline Value for Pillaiyar Koil sannathi Street

Pillaiyar Koil sannathi Street guideline value

The current guideline value of Pillaiyar Koil sannathi Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Pillaiyar Koil sannathi Street has changed

The guideline value for Pillaiyar Koil sannathi Street has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 481 per sq.ft. This figure increased to Rs 526 per sq.ft in 2003, marking a 9% rise. The following revisions saw significant changes; in 2007, the value jumped to Rs 850 per sq.ft, a 62% increase from the previous year. By 2012, the value rose to Rs 4,000 per sq.ft, reflecting a substantial 371% increase from 2007. However, it decreased by 33% to Rs 2,680 per sq.ft in 2017. The 2023 revision set the value at Rs 4,000 per sq.ft, which then increased by 10% to the current rate of Rs 4,400 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 815%. There are no figures available for the revisions in years other than those listed.

Guideline values in Saligramam

In Saligramam village, there are 333 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is equal to the current figure for Pillaiyar Koil sannathi Street.

• Pillaiyar Koil North Street: Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 5,500 per sq.ft (2024)
• Perumal Koil Street: Rs 4,400 per sq.ft (2024)
• Ponnammal Street: Rs 4,400 per sq.ft (2024)
• Perumal Koil South Street: Rs 4,950 per sq.ft (2024)
• Perumal Koil South lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar Koil sannathi 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 be 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 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 information.

Which Sub Registrar Office covers Pillaiyar Koil sannathi Street?

The Sub Registrar Office that covers Pillaiyar Koil sannathi Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Saligramam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official value set by the authorities.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This ensures transparency and compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil sannathi Street?

The current guideline value of Pillaiyar Koil sannathi 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 seen various changes, starting from Rs 481 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 815% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at 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 property registrations for Pillaiyar Koil sannathi Street?

The Virugambakkam Sub Registrar Office is responsible for handling property registrations for Pillaiyar Koil sannathi Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

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

The guideline value is used to determine the minimum value for property registration and is essential for calculating stamp duty and registration fees, ensuring that transactions adhere to local regulations.