Guideline Value for Pillayar Koil 2nd Street / Krishna Nagar

Pillayar Koil 2nd Street / Krishna Nagar guideline value

The current guideline value of Pillayar Koil 2nd Street / Krishna Nagar is Rs 2,530 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 I Type - I.

How the guideline value of Pillayar Koil 2nd Street / Krishna Nagar has changed

The guideline value for Pillayar Koil 2nd Street / Krishna Nagar has seen significant changes over the years. In 2002, the value was Rs 266 per sq.ft, which increased to Rs 335 per sq.ft in 2003. Following this, the value rose to Rs 570 per sq.ft in 2007, and then to Rs 1,541 per sq.ft in 2017, showing an increase of 170% from 2007 to 2017. The value further increased to Rs 2,300 per sq.ft in 2023, marking a 49% rise from 2017. The current value of Rs 2,530 per sq.ft in 2024 reflects a 10% increase from the previous year.

It is important to note that the register has no figure for this street in 2012. Overall, from 2002 to 2024, the guideline value has increased by 851%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median value is Rs 2,090 per sq.ft, placing Pillayar Koil 2nd Street / Krishna Nagar above this median.

• Pillayar Koil 2nd 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 1st Street / Mungil Lake: Rs 1,980 per sq.ft (2024)
• Pillayar Koil 3rd Street / Mungil Lake: Rs 1,980 per sq.ft (2024)
• Pillayar Koil 1st Street / Krishna Nagar: Rs 2,530 per sq.ft (2024)
• Pillayar Koil Cross Street / Mungil Lake: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Pillayar Koil 2nd Street / Krishna Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,530 per sq.ft, the guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total to Rs 2,27,700. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Pillayar Koil 2nd Street / Krishna Nagar?

The Sub Registrar Office that covers Pillayar Koil 2nd Street / Krishna Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor in the property registration process in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is crucial for buyers to be aware of the guideline value to avoid overpaying and for sellers to set realistic expectations regarding the sale price.

Frequently asked questions

What is the current guideline value of Pillayar Koil 2nd Street / Krishna Nagar?

The current guideline value of Pillayar Koil 2nd Street / Krishna Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 266 per sq.ft in 2002 to Rs 2,530 per sq.ft in 2024, reflecting an overall increase of 851%.

What is the land classification for Pillayar Koil 2nd Street / Krishna Nagar?

Pillayar Koil 2nd Street / Krishna Nagar is classified as Residential Class I Type - I.

Where can I find the Pammal Sub Registrar Office?

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

How is stamp duty calculated for properties in Pammal?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 25,30,000, the stamp duty at 7% would amount to Rs 1,77,100.