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-1 village, under the Salavakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Pillaiyarkovil street has changed

The guideline value for Pillaiyarkovil street has undergone several revisions over the years. In the 2017 revision, the value was set at Rs 40 per sq.ft. This figure increased significantly to Rs 100 per sq.ft in the 2023 revision, marking a 150% increase from the previous revision. The current revision in 2024 maintains the value at Rs 100 per sq.ft, showing no change from the 2023 revision. There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 150%. The consistent value of Rs 100 per sq.ft in both the 2023 and 2024 revisions indicates stability in the guideline value for this street.

Guideline values in Thandarai-1

In Thandarai-1, there are five streets under the Salavakkam SRO that carry a guideline value for 2024, ranging from Rs 100 to Rs 102 per sq.ft. The median guideline value for these streets is Rs 101 per sq.ft, placing Pillaiyarkovil street's value below this 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 guideline value of Rs 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty is charged at 7%, resulting in Rs 7,000, while the registration fee at 2% amounts to Rs 2,000. Therefore, the total cost for stamp duty and registration fee would be Rs 9,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Thandarai-1

The guideline value plays a crucial role during the registration of property transactions in Thandarai-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications of the transaction, based on the established guideline value.

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 for Pillaiyarkovil street was Rs 40 per sq.ft in 2017 and increased to Rs 100 per sq.ft in 2023. The value remains the same in 2024, showing an overall increase of 150% from 2017 to 2024.

What are the stamp duty and registration fees for property in Pillaiyarkovil street?

For a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 and the registration fee would be Rs 2,000, totaling Rs 9,000. This is calculated based on the current guideline value.

Which Sub Registrar Office should I approach for transactions in Pillaiyarkovil street?

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

What is the land classification of Pillaiyarkovil street?

Pillaiyarkovil street is classified as Residential Class I Type - I. This classification is important for understanding the permissible uses and regulations for properties in this area.