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 Poonthandalam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Pillayar koil street has changed

The guideline value for Pillayar koil street has experienced several revisions over the years. The earliest recorded value is from 2012, which was Rs 300 per sq.ft. In 2017, this value decreased to Rs 201 per sq.ft, marking a decline of 33%. However, the subsequent revisions saw significant increases, with the value rising to Rs 300 per sq.ft in 2023 and then to Rs 330 per sq.ft in 2024, reflecting a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. The guideline values for the revisions in 2017 and 2023 show a notable increase of 49% between these two years, indicating a significant change in the guideline value over the recent years.

Guideline values in Poonthandalam

In Poonthandalam village, there are nine streets under the Tambaram Joint 1 SRO that have a guideline value for 2024, ranging from Rs 330 to Rs 550 per sq.ft. The median value for these streets is Rs 330 per sq.ft, which is the same as the current value for Pillayar koil street.

• Perumal koil street: Rs 330 per sq.ft (2024)
• Parathapper amman koil street: Rs 330 per sq.ft (2024)
• Sai Jothi Nagar: Rs 440 per sq.ft (2024)
• Selliamman koil street: Rs 330 per sq.ft (2024)
• Gangaiamman koil street: Rs 330 per sq.ft (2024)
• Bajanai Koil Street: Rs 550 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 330 per sq.ft, the guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, together totaling Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Poonthandalam. It serves as a benchmark for determining the minimum value of a property for registration purposes. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property transactions. Ensuring that the transaction value meets or exceeds the guideline value is necessary for a smooth 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 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 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then increased to Rs 300 per sq.ft in 2023, and finally to Rs 330 per sq.ft in 2024.

What are the other streets in Poonthandalam with their guideline values?

Other streets in Poonthandalam include Perumal koil street, Parathapper amman koil street, Sai Jothi Nagar, Selliamman koil street, Gangaiamman koil street, and Bajanai Koil Street, with values ranging from Rs 330 to Rs 550 per sq.ft.

What is the stamp duty for property in Pillayar koil street?

The stamp duty for property in Pillayar koil street is 7% of the guideline value. For a property valued at Rs 3,30,000, the stamp duty would be Rs 23,100.

Which office handles the registration for Pillayar koil street?

The Tambaram Joint 1 Sub Registrar Office handles the registration for Pillayar koil street, located at No.26, mes Road, East Tambaram, Chennai-600059.