Guideline Value for Pillaiyar Kulam Street

Pillaiyar Kulam Street guideline value

The current guideline value of Pillaiyar Kulam Street is Rs 4,125 per sq.ft, effective from 1 July 2024. This street is located in Chengalpattu Town village under the Chengleput Joint I SRO and is classified as Residential Special Type - III.

How the guideline value of Pillaiyar Kulam Street has changed

The guideline value for Pillaiyar Kulam Street has undergone several revisions over the years. In 2007, the guideline value was set at Rs 600 per sq.ft, which saw a significant increase of 525% to Rs 3,750 per sq.ft in 2012. However, in 2017, the value decreased by 33% to Rs 2,512 per sq.ft. Following this, the value rose by 49% to Rs 3,750 per sq.ft in 2023. The most recent revision in 2024 has further increased the guideline value by 10% to Rs 4,125 per sq.ft.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for Pillaiyar Kulam Street. Overall, from 2007 to 2024, the guideline value has increased by 588%.

Guideline values in Chengalpattu Town

In Chengalpattu Town, there are 55 streets under the Chengleput Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value among these streets is Rs 3,025 per sq.ft, placing Pillaiyar Kulam Street's 2024 figure above this median.

• Periyamaniyakara Street: Rs 4,125 per sq.ft (2024)
• Pudu Eri: Rs 2,420 per sq.ft (2024)
• Pudukarai ( Nadu Street): Rs 2,200 per sq.ft (2024)
• Ragavanar Street: Rs 3,025 per sq.ft (2024)
• Rajaji Street: Rs 5,500 per sq.ft (2024)
• Rajeswari Vedachalam Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar Kulam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,125 per sq.ft, the total guideline value amounts to Rs 41,25,000. The stamp duty at 7% would be Rs 2,88,750, and the registration fee at 2% would be Rs 82,500, bringing the total to Rs 3,71,250. 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 details.

Which Sub Registrar Office covers Pillaiyar Kulam Street?

The Sub Registrar Office that covers Pillaiyar Kulam Street is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Chengalpattu Town. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction process.

When a property is bought or sold, the registration office uses the guideline value to calculate the applicable fees, ensuring that both buyers and sellers adhere to the legal requirements. This process helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Pillaiyar Kulam Street?

The current guideline value of Pillaiyar Kulam Street is Rs 4,125 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 600 per sq.ft in 2007 to Rs 4,125 per sq.ft in 2024, reflecting an overall increase of 588% over the years.

What is the land classification of Pillaiyar Kulam Street?

Pillaiyar Kulam Street is classified as Residential Special Type - III, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Chengleput Joint I Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is stamp duty calculated for properties in Chengalpattu Town?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. The current rate for stamp duty is 7%, with an additional registration fee of 2% applicable during the registration process.