Guideline Value for Pillayar Koil Street /VOC Nagar

Pillayar Koil Street /VOC Nagar guideline value

The current guideline value of Pillayar Koil Street /VOC Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal Sub Registrar Office (SRO), and is classified as Commercial Class I Type - II.

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

The guideline value for Pillayar Koil Street /VOC Nagar has undergone several revisions since 2002. In 2002, the value was Rs 184 per sq.ft, which increased to Rs 208 per sq.ft in 2003, marking a 13% rise. The value further increased to Rs 360 per sq.ft in 2007, reflecting a 73% change. By 2017, the guideline value reached Rs 1,675 per sq.ft, showing a significant increase of 365% from the previous revision. The 2023 revision set the value at Rs 2,500 per sq.ft, which was a 49% increase from 2017. The current value for 2024 is Rs 2,750 per sq.ft, representing a 10% increase from 2023.

It is important to note that there is no figure available for the year 2012 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1395%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, which indicates that the 2024 guideline value of Pillayar Koil Street /VOC Nagar is above this median.

• Pillayar Koil Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Pillayar Koil Street / NagalKeni: Rs 1,980 per sq.ft (2024)
• Pillayar Koil Street / Mungil Lake: Rs 1,980 per sq.ft (2024)
• Pilliyar Koil Street, Shankar Nagar: Rs 2,750 per sq.ft (2024)
• Pillayar Koil Cross Street / Mungil Lake: Rs 1,980 per sq.ft (2024)
• Pillayar Koil 3rdStreet / Mungil Lake: Rs 1,980 per sq.ft (2024)

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

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. Together, the total fees would be Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

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

The Pillayar Koil Street /VOC Nagar is covered by 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Pammal. It serves as a baseline for calculating the stamp duty and registration fees, which are mandatory for legal property transfers.

When a property is sold, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Pillayar Koil Street /VOC Nagar?

The current guideline value of Pillayar Koil Street /VOC Nagar 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 seen significant changes, increasing from Rs 184 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 1395% over the period.

What is the registration fee for properties in Pillayar Koil Street /VOC Nagar?

The registration fee is calculated at 2% of the guideline value. For example, for a property valued at Rs 27,50,000, the registration fee would be Rs 55,000.

What is the stamp duty rate applicable in Pammal?

The stamp duty rate applicable in Pammal is 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Pillayar Koil Street /VOC Nagar?

The Pammal Sub Registrar Office handles property registrations for Pillayar Koil Street /VOC Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.