Guideline Value for Pillayar Koil Street

Pillayar Koil Street guideline value

The current guideline value of Pillayar Koil Street in Padiyanallur village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Special 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 240 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2007. This was followed by a doubling of the value to Rs 1,200 per sq.ft in 2012, before dropping to Rs 804 per sq.ft in 2017. The subsequent revision in 2023 brought the value up to Rs 1,200 per sq.ft, and the latest revision in 2024 has set the value at Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 450%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Padiyanallur

Padiyanallur village has a total of 132 streets under the Redhills SRO, with guideline values ranging from Rs 385 to Rs 2,750 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Pillayar Koil Street above this median at Rs 1,320 per sq.ft.

• Pillayar Koil Street (Near Jothi Nagar): Rs 770 per sq.ft (2024)
• Pillaiar Koil Cross Street (M.A.NAGAR): Rs 1,320 per sq.ft (2024)
• Perunchithanar Street: Rs 770 per sq.ft (2024)
• Perumal Koil Street (PANNEERVAKKAM COLONY): Rs 385 per sq.ft (2024)
• Perumal Koil Steet (PANNEERVAKKAM): Rs 385 per sq.ft (2024)
• Periyar Street (Bhavani Nagar): Rs 770 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. 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 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 Padiyanallur

The guideline value is a critical factor during property registration in Padiyanallur. It serves as a reference point for determining the stamp duty and registration fees applicable to a property transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps in assessing the minimum value at which the property can be registered. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Pillayar Koil Street?

The current guideline value of Pillayar Koil Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 240 per sq.ft in 2003 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 450% over this period.

What is the land classification for Pillayar Koil Street?

Pillayar Koil Street is classified as Residential Special Type - I under the guidelines of the Redhills SRO.

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

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

How is the stamp duty calculated for properties in Pillayar Koil Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 13,20,000 would incur a stamp duty of Rs 92,400 at 7%.