Guideline Value for Pillaiyar Kovil Street

Pillaiyar Kovil Street guideline value

The current guideline value of Pillaiyar Kovil Street in Selvazhimagalam village is Rs 200 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Class II 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 the 2012 revision, the value was set at Rs 200 per sq.ft. However, this figure changed in the 2017 revision, where it decreased to Rs 134 per sq.ft, marking a decline of 33%. The subsequent 2023 revision brought the value back up to Rs 200 per sq.ft, showing an increase of 49% from 2017. The 2024 revision has maintained this value at Rs 200 per sq.ft, indicating no change from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Selvazhimagalam

In Selvazhimagalam village, there are 11 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 126 to Rs 500 per sq.ft. The median value for these streets is Rs 200 per sq.ft, which is equal to the guideline value of Pillaiyar Kovil Street.

• Selliamman Kovil Street: Rs 200 per sq.ft (2024)
• Mantheivelli Street: Rs 200 per sq.ft (2024)
• Kullakkarai Street: Rs 126 per sq.ft (2024)
• Kodi Street: Rs 200 per sq.ft (2024)
• Jambodai Street: Rs 300 per sq.ft (2024)
• Jambodai Kurukku Street: Rs 300 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 would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total cost for these fees to Rs 18,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more information.

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.

To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Selvazhimagalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

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. The value was Rs 134 per sq.ft in 2017 and Rs 200 per sq.ft in 2012.

What are the other streets in Selvazhimagalam with similar guideline values?

Other streets in Selvazhimagalam with a 2024 guideline value of Rs 200 per sq.ft include Selliamman Kovil Street, Mantheivelli Street, and Kodi Street.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Pillaiyar Kovil Street located?

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