Guideline Value for Pillaiyar koil street

Pillaiyar koil street guideline value

The current guideline value of Pillaiyar koil street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Madavilagam village, under the Poonamallee SRO, and is classified as Residential Class I Type - I.

How the guideline value of Pillaiyar koil street has changed

The guideline value for Pillaiyar koil street has undergone several revisions over the years. In 2007, the value was set at Rs 150 per sq.ft, which saw a significant increase to Rs 1,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 670 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 1,000 per sq.ft, and the latest revision in 2024 has increased it to Rs 1,100 per sq.ft.

Between the revisions, the changes were as follows: the value increased by 567% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The jump from 2023 to 2024 is 10%. Overall, from 2007 to 2024, the guideline value has increased by 633%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Madavilagam

In Madavilagam, there are 37 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 2,200 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, which is equal to the current value of Pillaiyar koil street.

• Pudthu vattaram 169/1,2: Rs 1,100 per sq.ft (2024)
• Nedunchalai: Rs 1,100 per sq.ft (2024)
• M.G.R.nagar: Rs 660 per sq.ft (2024)
• Shanmugapuram 1street 155/3: Rs 1,100 per sq.ft (2024)
• Shanmugapuram 2street 155/3: Rs 1,100 per sq.ft (2024)
• Shanmugapuram 3street 155/3: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar koil street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pillaiyar koil street?

The Sub Registrar Office that covers Pillaiyar koil street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for further assistance.

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

The guideline value is an essential factor in property transactions in Madavilagam. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with legal requirements.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue based on the property's assessed value, which is crucial for maintaining transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Pillaiyar koil street?

The current guideline value of Pillaiyar koil street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 150 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, an overall increase of 633%.

What is the land classification for Pillaiyar koil street?

Pillaiyar koil street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Pillaiyar koil street?

The Sub Registrar Office for Pillaiyar koil street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is stamp duty calculated for properties on Pillaiyar koil street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.