Guideline Value for Pillayar Koil Street

Pillayar Koil Street guideline value

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

How the guideline value of Pillayar Koil Street has changed

The guideline value for Pillayar Koil Street has undergone several revisions since 2002. The figures have changed from Rs 186 per sq.ft in 2002 to Rs 312 per sq.ft in 2003, marking a 68% increase. The value continued to rise to Rs 810 per sq.ft in 2007, which is an increase of 160%. By 2017, the value reached Rs 1,474 per sq.ft, reflecting an 82% rise from the previous revision. The 2023 revision set the value at Rs 2,200 per sq.ft, a significant 49% increase from 2017.

The most recent revision in 2024 has brought the guideline value to Rs 2,420 per sq.ft, representing a 10% increase from the 2023 figure. It is important to note that there is no figure available for the year 2012 in the register for this street.

Guideline values in Thiruneermalai

Thiruneermalai village has a total of 316 streets under the Pammal SRO, with guideline values ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value is Rs 2,420 per sq.ft, which is equal to the current guideline value of Pillayar Koil Street.

• Pillayar Koil Street / Durga Nagar: 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

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, charged at 7%, would be Rs 1,69,400, while the registration fee at 2% would be Rs 48,400. Together, these fees total Rs 2,17,800. It is important to note that duty is charged on the higher of the guideline value or 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 covering Pillayar Koil Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 process of property transactions in Thiruneermalai. It is used to determine the applicable stamp duty and registration fees, which are essential costs that buyers must consider when purchasing property.

When selling property, the guideline value helps establish a baseline for pricing, ensuring that the transaction is registered at a value recognized by the state. This helps maintain transparency and legality in property dealings.

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 increased significantly from Rs 186 per sq.ft in 2002 to Rs 2,420 per sq.ft in 2024, marking an overall increase of 1201% over the years.

What is the role of the Pammal SRO?

The Pammal SRO is responsible for the registration of property transactions in the area, including those on Pillayar Koil Street. It ensures that all transactions are legally documented and that applicable fees are collected.

What fees are associated with purchasing property on Pillayar Koil Street?

When purchasing property on Pillayar Koil Street, buyers must pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Are there other streets with the same guideline value in Thiruneermalai?

Yes, several other streets in Thiruneermalai have the same guideline value of Rs 2,420 per sq.ft as Pillayar Koil Street, including Pillayar Koil 1st Street, 2nd Street, 3rd Street, and others.