Guideline Value for Pillaiyar Kovil Street

Pillaiyar Kovil Street guideline value

The current guideline value of Pillaiyar Kovil Street is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Nandhivaram village under the Gooduvancheri SRO and is classified as Residential Class I Type - I.

How the guideline value of Pillaiyar Kovil Street has changed

The guideline value for Pillaiyar Kovil Street has undergone several revisions over the years. In 2002, the guideline value was Rs 113 per sq.ft, which increased significantly to Rs 328 per sq.ft in 2007. This was followed by a substantial rise to Rs 1,200 per sq.ft in 2012. However, between 2012 and 2017, the value decreased to Rs 804 per sq.ft. The 2023 revision maintained the value at Rs 1,200 per sq.ft, and the same value continues into the 2024 revision, showing no change from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 962%. Notably, there is no figure available for the year 2003 in the register for this street.

Guideline values in Nandhivaram

Nandhivaram has a total of 169 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,500 per sq.ft, placing the 2024 figure for Pillaiyar Kovil Street below this median.

• Prabhu Avenue: Rs 1,200 per sq.ft (2024)
• Priya Nagar: Rs 1,500 per sq.ft (2024)
• P.R.V. Nagar: Rs 1,000 per sq.ft (2024)
• Pasupathy Nagar: Rs 1,200 per sq.ft (2024)
• Radhakrishnan Nagar: Rs 1,200 per sq.ft (2024)
• Radha Nagar (212/2): Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total charges to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pillaiyar Kovil Street?

The Sub Registrar Office that covers Pillaiyar Kovil Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial reference for property transactions in Nandhivaram, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

It is essential for buyers and sellers to be aware of the current guideline value, as this will affect the overall costs involved in the transaction. The guideline value acts as a benchmark for assessing property values and ensuring compliance with regulatory requirements during the registration process.

Frequently asked questions

What is the current guideline value of Pillaiyar Kovil Street?

The current guideline value of Pillaiyar Kovil Street is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 113 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2012, decreased to Rs 804 per sq.ft in 2017, and has remained at Rs 1,200 per sq.ft from 2023 to 2024.

What are the stamp duty rates for properties in Pillaiyar Kovil Street?

The stamp duty for properties in Pillaiyar Kovil Street is calculated at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Pillaiyar Kovil Street?

The Sub Registrar Office for Pillaiyar Kovil Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.

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

The guideline value is significant as it serves as a reference point for determining the minimum registration value of properties, affecting stamp duty and registration fees during property transactions in Nandhivaram.