Guideline Value for Pillaiyar Kovil Street

Pillaiyar Kovil Street guideline value

The current guideline value of Pillaiyar Kovil Street in Konnur village, under the Konnur SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Pillaiyar Kovil Street has changed

The guideline value for Pillaiyar Kovil Street has experienced several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 352 per sq.ft. This figure increased to Rs 382 per sq.ft in 2003, marking a 9% rise. In 2007, the value saw a significant jump to Rs 700 per sq.ft, which was an increase of 83%. The 2012 revision brought the value back up to Rs 5,000 per sq.ft, reflecting a 614% increase from 2007. However, in 2017, the value decreased to Rs 3,350 per sq.ft, which was a decline of 33%. The 2023 revision set the value at Rs 5,000 per sq.ft, followed by a 10% increase to the current Rs 5,500 per sq.ft in 2024.

There are no figures available for the years between the revisions mentioned. Overall, from 2002 to 2024, the guideline value has increased by 1463%.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft, with a median value of Rs 3,800 per sq.ft. Pillaiyar Kovil Street's 2024 figure is above this median.

• Perumal Koil Street (Sannathi Street): Rs 5,500 per sq.ft (2024)
• Perumal Koil Madaveethi: Rs 5,500 per sq.ft (2024)
• Poompugar Nagar: Rs 5,500 per sq.ft (2024)
• Poompugar Nagar Extension Murugesan Nagar 4th Street: Rs 5,500 per sq.ft (2024)
• Poompugar Nagar Kollathur: Rs 5,500 per sq.ft (2024)
• Poompugar Nagar Salai First Street: Rs 5,500 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 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Pillaiyar Kovil Street?

The Sub Registrar Office that covers Pillaiyar Kovil Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Konnur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives appropriate revenue from property transfers.

When buying or selling property, both the buyer and seller should be aware of the guideline value as it impacts the overall cost of the transaction. It is essential to ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Pillaiyar Kovil Street?

The current guideline value of Pillaiyar Kovil Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 352 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting a significant overall increase of 1463%.

What is the land classification of Pillaiyar Kovil Street?

Pillaiyar Kovil Street is classified under Residential Class I Type - I.

What are the other streets in Konnur with the same guideline value?

Other streets in Konnur that share the same guideline value of Rs 5,500 per sq.ft include Perumal Koil Street (Sannathi Street), Perumal Koil Madaveethi, Poompugar Nagar, and several others.

Where can I find the Konnur Sub Registrar Office?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.