Guideline Value for Pillaiyarkovil street

Pillaiyarkovil street guideline value

The current guideline value of Pillaiyarkovil street is Rs 100 per sq.ft, effective from 1 July 2024. This street is located in Thandarai village, under the Salavakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Pillaiyarkovil street has changed

Over the years, the guideline value of Pillaiyarkovil street has undergone several revisions. The earliest recorded revision was in 2012, where the guideline value was set at Rs 60 per sq.ft. This figure then increased to Rs 40 per sq.ft in the 2017 revision, marking a decrease of 33%. Following this, the value saw a significant increase of 150%, reaching Rs 100 per sq.ft in the 2023 revision. The most recent revision in 2024 retained the guideline value at Rs 100 per sq.ft, showing no change from the previous year.

It is important to note that the register has no figures for Pillaiyarkovil street for the years 2002, 2003, and 2007. This lack of data indicates that there were no recorded guideline values for this street during those years.

Guideline values in Thandarai

In Thandarai village, five streets under the Salavakkam SRO have a 2024 guideline value ranging from Rs 100 to Rs 102 per sq.ft. The median guideline value for these streets is Rs 101 per sq.ft, positioning Pillaiyarkovil street's 2024 figure below that median.

• Second street: Rs 101 per sq.ft (2024)
• Turgai amman street: Rs 102 per sq.ft (2024)
• First street: Rs 101 per sq.ft (2024)
• Ambedkar street: Rs 102 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyarkovil street

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pillaiyarkovil street?

The Sub Registrar Office that covers Pillaiyarkovil street is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Thandarai. It serves as a benchmark for determining the minimum value of property transactions, ensuring that properties are registered at a fair value. Buyers and sellers must consider this value when negotiating sale prices to comply with local regulations.

During the registration process, the guideline value is used to calculate applicable fees, including stamp duty and registration fees. This ensures that the government receives the correct revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Pillaiyarkovil street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2012 to Rs 40 per sq.ft in 2017, then to Rs 100 per sq.ft in 2023, and remains at Rs 100 per sq.ft in 2024.

What are the guideline values of other streets in Thandarai?

Other streets in Thandarai have guideline values ranging from Rs 101 to Rs 102 per sq.ft, with Pillaiyarkovil street being below the median value of Rs 101 per sq.ft.

What fees are associated with property transactions in Pillaiyarkovil street?

For a property valued at Rs 1,00,000, the stamp duty is Rs 7,000, and the registration fee is Rs 2,000, totaling Rs 9,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Pillaiyarkovil street?

The Salavakkam Sub Registrar Office covers Pillaiyarkovil street and is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.