Guideline Value for Pillayar Koil 4tht Main Road

Pillayar Koil 4tht Main Road guideline value

The current guideline value of Pillayar Koil 4tht Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This road is located in Maduravoyal village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Pillayar Koil 4tht Main Road has changed

The guideline value for Pillayar Koil 4tht Main Road has experienced several revisions over the years. The earliest recorded value was Rs 194 per sq.ft in 2002, which increased to Rs 213 per sq.ft in 2003, marking a 10% rise. In 2007, the value saw a significant jump to Rs 300 per sq.ft, which was an increase of 41%. The value then rose dramatically to Rs 2,500 per sq.ft in 2012, reflecting a 733% increase. However, it decreased to Rs 1,675 per sq.ft in 2017, showing a decline of 33%. The value was revised again to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,750 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the revisions in the years not listed. Overall, from 2002 to 2024, the guideline value has increased by 1,318%.

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 guideline value for Pillayar Koil 4tht Main Road is below this median.

• Pillayar Koil 4th Cross Street: Rs 2,750 per sq.ft (2024)
• Pillayar Koil 5th Cross Street: Rs 2,750 per sq.ft (2024)
• Pillayar Koil 3rd Main Road: Rs 2,750 per sq.ft (2024)
• Pillayar Koil 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• Pillayar Koil 2nd Main Road: Rs 2,750 per sq.ft (2024)
• Pillayar Koil 2nd Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Pillayar Koil 4tht 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 cost to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Pillayar Koil 4tht Main Road?

The Sub Registrar Office covering Pillayar Koil 4tht 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 plays a crucial role in property transactions in Maduravoyal. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. When registering a property, the guideline value is considered to ensure that the transaction is recorded accurately in accordance with government regulations.

Additionally, the guideline value helps in establishing a reference point for property transactions, ensuring that both buyers and sellers have a clear understanding of the value of the property being exchanged. This transparency aids in facilitating smoother transactions within the real estate market.

Frequently asked questions

What is the current guideline value of Pillayar Koil 4tht Main Road?

The current guideline value of Pillayar Koil 4tht 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 changed significantly from Rs 194 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 1,318% over this period.

What is the stamp duty for property in Pillayar Koil 4tht Main Road?

The stamp duty for property in Pillayar Koil 4tht Main Road is 7% of the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500.

Which office handles registrations for Pillayar Koil 4tht Main Road?

The Virugambakkam Sub Registrar Office handles registrations for Pillayar Koil 4tht Main Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What other streets have the same guideline value in Maduravoyal?

Other streets in Maduravoyal that share the same guideline value of Rs 2,750 per sq.ft include Pillayar Koil 4th Cross Street, Pillayar Koil 5th Cross Street, Pillayar Koil 3rd Main Road, Pillayar Koil 3rd Cross Street, Pillayar Koil 2nd Main Road, and Pillayar Koil 2nd Cross Street.