Guideline Value for Pillayar Koil 5th Cross Street

Pillayar Koil 5th Cross Street guideline value

The current guideline value of Pillayar Koil 5th Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village under the Virugambakkam SRO, and it falls under the Residential Class IV Type - I land classification.

How the guideline value of Pillayar Koil 5th Cross Street has changed

The guideline value for Pillayar Koil 5th Cross Street has seen several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 194 per sq.ft. This value increased to Rs 213 per sq.ft in 2003, marking a 10% rise. The next significant jump occurred in 2007, where the value surged to Rs 300 per sq.ft, a 41% increase from the previous revision. In 2012, the guideline value rose to Rs 2,500 per sq.ft, reflecting a substantial increase of 733% from 2007. However, this was followed by a decrease to Rs 1,675 per sq.ft in 2017, which represented a decline of 33%.

From 2017 to 2023, the guideline value saw a significant increase to Rs 2,500 per sq.ft, which is a 49% rise. The most recent revision in 2024 set the current guideline value at Rs 2,750 per sq.ft, marking a 10% increase from the previous year. There are no figures available for any revisions prior to 2002 or after 2024 for this street.

Guideline values in Maduravoyal

In Maduravoyal, there are a total of 636 streets under the Virugambakkam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value in this area is Rs 3,050 per sq.ft, indicating that the guideline value for Pillayar Koil 5th Cross Street is below this median.

• Pillayar Koil 4tht Main Road: Rs 2,750 per sq.ft (2024)
• Pillayar Koil 4th 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 5th 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, 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 and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Pillayar Koil 5th Cross Street?

The Sub Registrar Office that covers Pillayar Koil 5th 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 details.

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

The guideline value is a crucial factor when registering property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, making it essential to understand the current guideline value in the area.

Frequently asked questions

What is the current guideline value of Pillayar Koil 5th Cross Street?

The current guideline value of Pillayar Koil 5th 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, reflecting an overall increase of 1318% over the years.

What are the other streets in Maduravoyal with the same guideline value?

Other streets in Maduravoyal with a guideline value of Rs 2,750 per sq.ft in 2024 include Pillayar Koil 4th Main Road, Pillayar Koil 4th Cross Street, Pillayar Koil 3rd Main Road, Pillayar Koil 3rd Cross Street, Pillayar Koil 2nd Main Road, and Pillayar Koil 2nd Cross Street.

What is the stamp duty for property in Pillayar Koil 5th Cross Street?

The stamp duty for a property valued at Rs 27,50,000 is calculated at 7%, amounting to Rs 1,92,500. Additionally, the registration fee is 2%, which is Rs 55,000.

Where is the Sub Registrar Office for Pillayar Koil 5th Cross Street located?

The Sub Registrar Office for Pillayar Koil 5th Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.