Guideline Value for Pillayar Koil Street

Pillayar Koil Street guideline value

The current guideline value of Pillayar Koil Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Puzhal village under the Redhills SRO, and the land classification is Residential Special 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 2003, the guideline value was Rs 128 per sq.ft. This figure increased significantly to Rs 600 per sq.ft in 2007, marking a change of +369%. Following that, the value rose to Rs 2,200 per sq.ft in 2012, which represented a substantial increase of +267%. However, from 2012 to 2017, the value decreased to Rs 1,474 per sq.ft, a decline of -33%. The next revision in 2023 set the value at Rs 2,200 per sq.ft, which was a +49% increase from the previous figure. The most recent revision in 2024 saw the value rise to Rs 2,420 per sq.ft, reflecting a +10% change from 2023.

It is important to note that the register has no figure for Pillayar Koil Street for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by +1,791%.

Guideline values in Puzhal

In Puzhal village, there are 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 1,102 per sq.ft, placing Pillayar Koil Street's current value above that median.

• Perumal Koil Street: Rs 1,100 per sq.ft (2024)
• Prajana Avenue: Rs 1,100 per sq.ft (2024)
• Punitha Anthoniar 1st Street: Rs 2,420 per sq.ft (2024)
• Punitha Anthoniar 2nd Street: Rs 2,420 per sq.ft (2024)
• Punitha Anthoniar 3rd Street: Rs 2,420 per sq.ft (2024)
• Punitha Anthoniar 4th 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 at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total fees together to Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, 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 Puzhal

The guideline value is a crucial factor in property transactions in Puzhal. It serves as a reference point for determining the value of the property for registration purposes. When a property is sold, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the costs associated with property registration. Ensuring that the sale price is in line with the guideline value can facilitate a smoother registration process.

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 changed significantly, increasing from Rs 128 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, which is an overall increase of +1,791%.

What is the land classification of Pillayar Koil Street?

Pillayar Koil Street is classified as Residential Special Type - I under the current land classification guidelines.

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.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 2,17,800.