Guideline Value for Swami Pillai Street

Swami Pillai Street guideline value

The current guideline value of Swami Pillai Street is Rs 806 per sq.ft, effective from 1 July 2024. This street is located in Kovilpathagai village and falls under the Ambattur SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Swami Pillai Street has changed

Over the years, the guideline value of Swami Pillai Street has experienced several revisions. The earliest recorded figure is from 2012, when the value was Rs 600 per sq.ft. This increased to Rs 402 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value saw a significant increase of 100%, bringing it to Rs 806 per sq.ft. The value remained unchanged from 2023 to 2024.

There are no recorded guideline values for the years 2002, 2003, and 2007 for Swami Pillai Street. Overall, from 2012 to 2024, the guideline value has increased by 34%.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median value for these streets is Rs 870 per sq.ft, indicating that the guideline value for Swami Pillai Street is below this median.

• Swamy Nagar: Rs 990 per sq.ft (2024)
• S.V. Nagar: Rs 803 per sq.ft (2024)
• Swathi Street: Rs 880 per sq.ft (2024)
• Swathy Garden: Rs 880 per sq.ft (2024)
• Swathy Nagar: Rs 880 per sq.ft (2024)
• Tank Street: Rs 805 per sq.ft (2024)

Stamp duty and registration fee for property in Swami Pillai Street

For a plot of 1,000 sq.ft at the current guideline value of Rs 806 per sq.ft, the total guideline value amounts to Rs 8,06,000. The stamp duty at 7% would be Rs 56,420, and the registration fee at 2% would be Rs 16,120, bringing the total cost for these fees to Rs 72,540. 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 Swami Pillai Street?

The Sub Registrar Office that covers Swami Pillai Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kovilpathagai. It is used to determine the stamp duty and registration fees that buyers need to pay when purchasing property. The guideline value is set by the government and is subject to periodic revisions based on various factors.

When selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Swami Pillai Street?

The current guideline value of Swami Pillai Street is Rs 806 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 806 per sq.ft in 2024, with a significant increase of 100% from 2017 to 2023.

What is the land classification for Swami Pillai Street?

The land classification for Swami Pillai Street is Residential Class III Type - I.

Where can I find the Sub Registrar Office for Swami Pillai Street?

The Sub Registrar Office for Swami Pillai Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

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 guideline value of Rs 806 per sq.ft, the total fees would amount to Rs 72,540.