Guideline Value for Pillayar Koil Street

Pillayar Koil Street guideline value

The current guideline value of Pillayar Koil Street is Rs 330 per sq.ft, effective from 1 July 2024. This street is located in Azhinchivakkam village, under the Redhills SRO, and is classified as Residential Class II Type - I.

How the guideline value of Pillayar Koil Street has changed

The guideline value for Pillayar Koil Street has seen several revisions over the years. In 2003, the value was Rs 29 per sq.ft, which increased significantly to Rs 100 per sq.ft in 2007. Following a substantial rise, the value reached Rs 300 per sq.ft in 2012, before dropping to Rs 201 per sq.ft in 2017. The 2023 revision saw the value increase to Rs 300 per sq.ft, and the most recent revision in 2024 set it at Rs 330 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 1,038%. The register has no figure for the year 2002 for this street.

Guideline values in Azhinchivakkam

In Azhinchivakkam, five streets under the Redhills SRO have a 2024 guideline value ranging from Rs 330 to Rs 550 per sq.ft, with a median value of Rs 440 per sq.ft. Pillayar Koil Street's current value is below this median.

• Selva Vinayagar Nagar Annex-1: Rs 440 per sq.ft (2024)
• Mettu Street: Rs 330 per sq.ft (2024)
• Sri Selva Vinayagar Nagar: Rs 550 per sq.ft (2024)
• Kanaga Durga Nagar: Rs 440 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 330 per sq.ft, the total guideline value would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total to Rs 29,700. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pillayar Koil Street?

The Sub Registrar Office that covers Pillayar Koil Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Azhinchivakkam. It serves as a benchmark for determining the stamp duty and registration fees that are payable at the time of registration.

When buying or selling property, the guideline value is referenced to ensure that the transaction is recorded accurately and that the appropriate fees are collected. This process helps maintain transparency and consistency 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 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 29 per sq.ft in 2003 to Rs 330 per sq.ft in 2024, reflecting an overall increase of 1,038% over this period.

What are the stamp duty rates for properties in Pillayar Koil Street?

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

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Pillayar Koil Street?

Pillayar Koil Street is classified as Residential Class II Type - I, indicating its suitability for residential development.