Guideline Value for Pillayar Koil Street

Pillayar Koil Street guideline value

The current guideline value of Pillayar Koil Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Thiruvancheri village under the Pallavaram SRO, classified as Residential Class I 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 2007, the value was set at Rs 200 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012. However, this figure saw a decrease to Rs 1,206 per sq.ft in 2017. The guideline value then rose to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,980 per sq.ft from the 2024 revision. The changes from one revision to the next are as follows: 2007 to 2012 saw an increase of 800%, followed by a decrease of 33% from 2012 to 2017, an increase of 24% from 2017 to 2023, and a further increase of 32% from 2023 to 2024.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Thiruvancheri

In Thiruvancheri, there are 70 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,000 per sq.ft, with the median being Rs 1,980 per sq.ft. Pillayar Koil Street's 2024 guideline value is equal to this median.

• Parvathi Nagar: Rs 2,530 per sq.ft (2024)
• Panchayat Road: Rs 1,100 per sq.ft (2024)
• Rajiv Gandhi Cross Street: Rs 1,980 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 1,980 per sq.ft (2024)
• Ramar Koil Street: Rs 1,980 per sq.ft (2024)
• Nethaji Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Pillayar Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 1,980 per sq.ft, the guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. It is important to note that 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?

The Sub Registrar Office that covers Pillayar Koil Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Thiruvancheri. It serves as a benchmark for determining the minimum value at which a property can be registered. When a property is sold, the registration fee and stamp duty are calculated based on this value or the sale price, whichever is higher.

This ensures that the government receives appropriate revenue from property transactions. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Pillayar Koil Street?

The current guideline value for Pillayar Koil Street is Rs 1,980 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 200 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 890% over the years.

What is the land classification for Pillayar Koil Street?

Pillayar Koil Street is classified as Residential Class I Type - I under the Pallavaram SRO.

What are the stamp duty and registration fees for a property on this street?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

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

The Sub Registrar Office for Pillayar Koil Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.