Guideline Value for Pillayar Koil Street / Durga Nagar

Pillayar Koil Street / Durga Nagar guideline value

The current guideline value of Pillayar Koil Street / Durga Nagar is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village and falls under the Pammal SRO, classified as Residential Class I Type - I.

How the guideline value of Pillayar Koil Street / Durga Nagar has changed

The guideline value for Pillayar Koil Street has undergone several revisions over the years. In 2003, the value was Rs 312 per sq.ft, which increased significantly to Rs 810 per sq.ft in 2007, marking a change of +160%. The value continued to rise, reaching Rs 1,474 per sq.ft in 2017, a substantial increase of +82% from the previous revision. The 2023 revision saw the value rise to Rs 2,200 per sq.ft, reflecting a +49% increase over the 2017 figure.

As of the 2024 revision, the guideline value stands at Rs 2,420 per sq.ft, which is a +10% increase from the 2023 figure. Overall, from 2003 to 2024, the guideline value has increased by +676%. It is important to note that the register has no figures for the years 2002 and 2012 for this street.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value is Rs 2,420 per sq.ft, which is equal to the current value of Pillayar Koil Street.

• Pillayar Koil Street: Rs 2,420 per sq.ft (2024)
• Pillayar Koil 3rd Street: Rs 2,420 per sq.ft (2024)
• Pillayar Koil 3rd Cross Street: Rs 2,420 per sq.ft (2024)
• Pillayar Koil 2nd Street: Rs 2,420 per sq.ft (2024)
• Pillayar Koil 2nd Cross Street: Rs 2,420 per sq.ft (2024)
• Pillayar Koil 1st Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Pillayar Koil Street / Durga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total to Rs 2,17,800. 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 details.

Which Sub Registrar Office covers Pillayar Koil Street / Durga Nagar?

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

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

The guideline value plays a crucial role in the registration of property transactions in Thiruneermalai. It serves as the basis for calculating the stamp duty and registration fees that are required when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When a property is registered, the guideline value is used to determine the applicable fees, which are charged on the higher of the guideline value or the sale price. This ensures that both parties are aware of the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Pillayar Koil Street?

The current guideline value of Pillayar Koil Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several increases, from Rs 312 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, marking an overall increase of +676%.

What is the stamp duty rate for property in Pillayar Koil Street?

The stamp duty rate for property in Pillayar Koil Street is 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers this area?

The Pammal Sub Registrar Office covers Pillayar Koil Street / Durga Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

Are there other streets with the same guideline value?

Yes, several other streets in Thiruneermalai have the same guideline value of Rs 2,420 per sq.ft for the year 2024, including Pillayar Koil 3rd Street, Pillayar Koil 3rd Cross Street, and others.