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Guideline Value

Corporate

Guideline Value for Pillayar Koil Street

₹2750/sq.ft.

The guideline value for Pillayar Koil Street 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 Street

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Pillayar Koil Street guideline value

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

How the guideline value of Pillayar Koil Street has changed

The guideline value for Pillayar Koil Street has undergone 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. Following this, the value rose significantly to Rs 300 per sq.ft in 2007, and then to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017, before climbing back to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1318%. Notably, there are no figures available for the revisions in years other than those mentioned above.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. Pillayar Koil Street's 2024 guideline value is below this median.

Stamp duty and registration fee for property in Pillayar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total 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.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Pillayar Koil Street?

The Sub Registrar Office that covers Pillayar Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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 the minimum value set by the government for property registration, ensuring that properties are registered at a fair price. When buying or selling property, this value is used to calculate the stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Pillayar Koil Street?

The current guideline value of Pillayar Koil Street 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 1318% over the years.

What is the land classification for Pillayar Koil Street?

Pillayar Koil Street is classified as Residential Class IV Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Pillayar Koil Street?

The Virugambakkam Sub Registrar Office, which covers Pillayar Koil Street, is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Maduravoyal?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if a property is valued at Rs 27,50,000, the stamp duty would be 7% of that amount.