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Guideline Value

Corporate

Guideline Value for Pillayar Koil 2nd Cross Street

₹2750/sq.ft.

The guideline value for Pillayar Koil 2nd Cross 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 2nd Cross Street

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Pillayar Koil 2nd Cross Street guideline value

The current guideline value of Pillayar Koil 2nd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street 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 2nd Cross Street has changed

The guideline value for Pillayar Koil 2nd Cross Street 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. Following this, the value rose to Rs 300 per sq.ft in 2007, and then significantly jumped to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017. The most recent revisions show an increase to Rs 2,500 per sq.ft in 2023, and the current value is Rs 2,750 per sq.ft from 1 July 2024.

Between the revisions, there have been notable changes. From 2002 to 2003, the guideline value increased by 10%. From 2003 to 2007, it rose by 41%, followed by a massive increase of 733% from 2007 to 2012. After a decrease of 33% from 2012 to 2017, the value increased by 49% from 2017 to 2023. The change from 2023 to 2024 is an increase of 10%, resulting in an overall increase of 1,318% from 2002 to 2024.

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. The guideline value of Pillayar Koil 2nd Cross Street is below this median.

Stamp duty and registration fee for property in Pillayar Koil 2nd Cross 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, and the registration fee at 2% would be Rs 55,000, leading to a total cost of 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 2nd Cross Street?

The Sub Registrar Office that covers Pillayar Koil 2nd Cross Street 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 during the registration of property transactions in Maduravoyal. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When a buyer or seller engages in a property transaction, the guideline value helps determine the official value of the property. This value is essential for legal documentation and ensures compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Pillayar Koil 2nd Cross Street?

The current guideline value of Pillayar Koil 2nd Cross 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, marking an overall increase of 1,318% over this period.

What is the land classification for Pillayar Koil 2nd Cross Street?

The land classification for Pillayar Koil 2nd Cross Street is Residential Class IV Type - I.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Pillayar Koil 2nd Cross Street?

The Virugambakkam Sub Registrar Office handles registrations for Pillayar Koil 2nd Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.