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 Vattampakkam village under the Sunguvarchattram SRO, 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 seen several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft. However, this figure rose significantly in the 2023 revision back to Rs 200 per sq.ft, maintaining the same value in the 2024 revision, indicating no percentage change from 2023 to 2024.

From 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 200 per sq.ft.

Guideline values in Vattampakkam

In Vattampakkam, there are 33 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,790 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value for Pillaiyar Kovil Street is below this median.

• Pethel Nagar: Rs 426 per sq.ft (2024)
• Perumal Kovil Street (colony): Rs 200 per sq.ft (2024)
• Ponniamman Kovil Street (colony): Rs 200 per sq.ft (2024)
• Parivender Nagar: Rs 500 per sq.ft (2024)
• OMS green city: Rs 1,790 per sq.ft (2024)
• Rockey Garden: Rs 250 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 at 7% would be Rs 14,000, while the registration fee 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pillaiyar Kovil Street?

The Sub Registrar Office covering Pillaiyar Kovil Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Vattampakkam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects current market conditions, preventing undervaluation and ensuring compliance with legal requirements. Buyers and sellers must consider this value when negotiating property prices.

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 remained at Rs 200 per sq.ft in 2023 and 2024, after a drop to Rs 134 per sq.ft in 2017. It was previously set at Rs 200 per sq.ft in 2012.

What is the land classification for Pillaiyar Kovil Street?

Pillaiyar Kovil Street is classified as Residential Class II Type - I. This classification is important for determining the appropriate uses for the land.

What are the stamp duty and registration fees for property in Pillaiyar Kovil Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 2,00,000, the total fees would amount to Rs 18,000.

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 Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.