Guideline Value for Pilliayar Koil Cross Street

Pilliayar Koil Cross Street guideline value

The current guideline value of Pilliayar Koil Cross Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, classified as Residential Class I Type - III.

How the guideline value of Pilliayar Koil Cross Street has changed

The guideline value for Pilliayar Koil Cross Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 8,700 per sq.ft, an increase of 9% from the 2023 revision, which was Rs 8,000 per sq.ft. Prior to these, the register has no figure for the years 2017, 2012, 2007, 2003, and 2002.

In summary, the only recorded revisions for this street are from 2023 and 2024, showing a clear upward adjustment. As such, the guideline value has increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Pilliayar Koil Cross Street's 2024 figure below this median.

• Play Ground View Street: Rs 14,300 per sq.ft (2024)
• Poes Garden: Rs 19,800 per sq.ft (2024)
• Poes Road: Rs 10,900 per sq.ft (2024)
• Poes Road 1st Street: Rs 10,900 per sq.ft (2024)
• Poes Road 2nd Street: Rs 10,900 per sq.ft (2024)
• Poes Road 3rd Street: Rs 10,900 per sq.ft (2024)

Stamp duty and registration fee for property in Pilliayar Koil Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total charges to Rs 7,83,000. It is important to note that 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 Pilliayar Koil Cross Street?

The Sub Registrar Office covering Pilliayar Koil Cross Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Mylapore Part 1, the guideline value helps in calculating the applicable stamp duty and registration fees, which are mandatory for legal documentation.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with registration regulations. This value serves as a benchmark for the transaction, ensuring that the property is not undervalued for tax purposes.

Frequently asked questions

What is the current guideline value of Pilliayar Koil Cross Street?

The current guideline value of Pilliayar Koil Cross Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Pilliayar Koil Cross Street was Rs 8,000 per sq.ft in 2023, which increased to Rs 8,700 per sq.ft in 2024. There are no figures available for the revisions in the years 2017, 2012, 2007, 2003, and 2002.

What is the median guideline value in Mylapore Part 1?

The median guideline value for streets in Mylapore Part 1 is Rs 8,800 per sq.ft. Pilliayar Koil Cross Street's current value is below this median.

What are the stamp duty and registration fees for properties in Pilliayar Koil Cross Street?

For a property valued at Rs 87,00,000, the stamp duty would be Rs 6,09,000 and the registration fee would be Rs 1,74,000, totaling Rs 7,83,000. Duty is charged on the higher of the guideline value or the sale price.

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

The Sub Registrar Office for Pilliayar Koil Cross Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.