Guideline Value for Pillaiyar Kovil Street

Pillaiyar Kovil Street guideline value

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

How the guideline value of Pillaiyar Kovil Street has changed

The guideline value for Pillaiyar Kovil Street has seen several revisions over the years. In 2012, the value was set at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 200 per sq.ft. The 2024 revision has maintained this figure, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained at Rs 200 per sq.ft.

Guideline values in Santhavellur

In Santhavellur, there are 63 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 2,800 per sq.ft, with a median value of Rs 500 per sq.ft. Pillaiyar Kovil Street's 2024 figure is below this median.

• Perumal Kovil Street: Rs 250 per sq.ft (2024)
• Prime City: Rs 670 per sq.ft (2024)
• Punitha Valanar Street: Rs 400 per sq.ft (2024)
• Radha Garden: Rs 2,400 per sq.ft (2024)
• Rajaveethi: Rs 250 per sq.ft (2024)
• Ramakka Chathiram: Rs 305 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty, charged at 7%, would be Rs 14,000, and the registration fee, charged at 2%, would be Rs 4,000, bringing the total to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use 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 Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Santhavellur. It serves as a benchmark for determining the minimum value at which property transactions must be registered. This ensures that the government receives appropriate revenue from property transactions through stamp duty and registration fees.

When a buyer and seller agree on a sale price, the guideline value is compared to ensure that the registration reflects the higher amount. This helps in maintaining transparency and accountability in property transactions, as all parties are aware of the official valuation set by the government.

Frequently asked questions

What is the current guideline value of Pillaiyar Kovil Street?

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

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent revision in 2024 maintaining the value at Rs 200 per sq.ft, while it was Rs 134 per sq.ft in 2017.

What is the land classification of Pillaiyar Kovil Street?

Pillaiyar Kovil Street is classified as Residential Class IV Type - I.

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

The Sub Registrar Office for Pillaiyar Kovil Street is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.