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Guideline Value

Corporate

Guideline Value for Pillayar Koil 1st Main Road

₹2750/sq.ft.

The guideline value for Pillayar Koil 1st Main Road in Maduravoyal village (Virugambakkam SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Maduravoyal

Village

Virugambakkam

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹300 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹213 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹194 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Pillayar Koil 1st Main Road

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Pillayar Koil 1st Main Road guideline value

The current guideline value of Pillayar Koil 1st Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This road is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Pillayar Koil 1st Main Road has changed

The guideline value for Pillayar Koil 1st Main Road has seen several revisions over the years. In 2002, the value was Rs 194 per sq.ft, which increased to Rs 213 per sq.ft in 2003. The value then rose significantly to Rs 300 per sq.ft in 2007. Following this, the 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease from the previous figure. The value increased to Rs 1,675 per sq.ft in 2017, and then to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 2,750 per sq.ft.

In terms of changes, the increase from 2023 to 2024 is 10%. The value rose by 49% from 2017 to 2023. There was a decrease of 33% from 2012 to 2017. The 2007 to 2012 period saw a substantial increase of 733%. From 2003 to 2007, the value increased by 41%, and from 2002 to 2003, it rose by 10%. Overall, the guideline value has increased by 1318% from 2002 to 2024.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value for these streets is Rs 3,050 per sq.ft, indicating that the 2024 figure for Pillayar Koil 1st Main Road is below this median.

Stamp duty and registration fee for property in Pillayar Koil 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total charges to Rs 2,47,500. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers Pillayar Koil 1st Main Road?

The Sub Registrar Office that covers Pillayar Koil 1st Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of purchase or sale.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Pillayar Koil 1st Main Road?

The current guideline value for Pillayar Koil 1st Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 194 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 1318% over this period.

What is the stamp duty rate for properties in Pillayar Koil 1st Main Road?

The stamp duty rate for properties in Pillayar Koil 1st Main Road is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Pillayar Koil 1st Main Road located?

The Sub Registrar Office for Pillayar Koil 1st Main Road is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How many streets in Maduravoyal have a guideline value?

There are 636 streets in Maduravoyal under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,050 per sq.ft.