Guideline Value for Pillappan Street, Meenakshi Nagar

Pillappan Street, Meenakshi Nagar guideline value

The current guideline value of Pillappan Street, Meenakshi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Pillappan Street, Meenakshi Nagar has changed

The guideline value for Pillappan Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,206 per sq.ft, which increased to Rs 1,800 per sq.ft in 2023. The latest revision in 2024 raised the value to Rs 1,980 per sq.ft, marking a 10% increase from the previous year and a significant 64% increase from the 2017 figure.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The changes from 2017 to 2023 reflect a 49% increase, demonstrating a notable rise in the guideline value over this period.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value in this area is Rs 2,090 per sq.ft, positioning Pillappan Street's 2024 figure below this median.

• Pillayar Koil 1st Cross Street / Krishna Nagar: Rs 2,530 per sq.ft (2024)
• Pillayar Koil 1st Street / Krishna Nagar: Rs 2,530 per sq.ft (2024)
• Pillayar Koil 1st Street / Mungil Lake: Rs 1,980 per sq.ft (2024)
• Pillayar Koil 2nd Cross Street / Krishna Nagar: Rs 2,530 per sq.ft (2024)
• Pillayar Koil 2nd Street / Krishna Nagar: Rs 2,530 per sq.ft (2024)
• Pillayar Koil 2nd Street / Mungil Lake: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Pillappan Street, Meenakshi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value is Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. Note that the duty is charged on the higher of the guideline value and the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pillappan Street, Meenakshi Nagar?

The Sub Registrar Office that covers Pillappan Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Pammal, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential for the legal transfer of property ownership.

It is important for buyers and sellers to be aware of the guideline value, as it can affect the overall costs involved in a property transaction. Ensuring compliance with the guideline value is necessary for a smooth registration process.

Frequently asked questions

What is the current guideline value of Pillappan Street?

The current guideline value of Pillappan Street, Meenakshi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, representing a 64% increase over this period.

What is the land classification for Pillappan Street?

Pillappan Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 19,80,000, the stamp duty at 7% would be Rs 1,38,600.