Guideline Value for WEST PILLAYAR KOIL STREET

West Pillayar Koil Street guideline value

The current guideline value of West Pillayar Koil Street is Rs 401 per sq.ft, effective from 1 July 2024. This street is located in Karunguzhi village under the Madurandakam SRO, classified as Mixed Type - I land.

How the guideline value of West Pillayar Koil Street has changed

West Pillayar Koil Street has seen several revisions in its guideline value over the years. The earliest recorded figure is from 2007, where the value was Rs 80 per sq.ft. This increased significantly to Rs 400 per sq.ft in 2012, followed by a decrease to Rs 268 per sq.ft in 2017. The value then rose to Rs 400 per sq.ft in 2023, and currently stands at Rs 401 per sq.ft from the 2024 revision. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Examining the changes, the guideline value increased by 400% from Rs 80 in 2007 to Rs 400 in 2012, then decreased by 33% to Rs 268 in 2017. From 2017 to 2023, the value increased by 49%, and there was no change from 2023 to 2024, maintaining the value at Rs 401 per sq.ft.

Guideline values in Karunguzhi

In Karunguzhi, there are 37 streets under the Madurandakam SRO that have a 2024 guideline value ranging from Rs 401 to Rs 1,000 per sq.ft, with the median being Rs 401 per sq.ft. West Pillayar Koil Street's 2024 figure aligns with this median.

• Z.N.Nagar: Rs 500 per sq.ft (2024)
• Valluvar Veedhi: Rs 401 per sq.ft (2024)
• Vaiyali Vinayagar Koil Street: Rs 401 per sq.ft (2024)
• Thumbhulavar Street: Rs 401 per sq.ft (2024)
• Thattara Street: Rs 401 per sq.ft (2024)
• Shalom Nagar: Rs 602 per sq.ft (2024)

Stamp duty and registration fee for property in West Pillayar Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 401 per sq.ft, the guideline value amounts to Rs 4,01,000. The stamp duty at 7% would be Rs 28,070, and the registration fee at 2% would be Rs 8,020, totaling Rs 36,090. 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 further calculations.

Which Sub Registrar Office covers West Pillayar Koil Street?

The Sub Registrar Office that covers West Pillayar Koil Street is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Karunguzhi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps to establish a fair transaction price. It is important for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of West Pillayar Koil Street?

The current guideline value of West Pillayar Koil Street is Rs 401 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2007 to Rs 401 per sq.ft in 2024, marking an overall increase of 401% over the years.

What is the land classification of West Pillayar Koil Street?

West Pillayar Koil Street is classified as Mixed Type - I land, which indicates its varied usage potential.

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

The Madurandakam Sub Registrar Office covers West Pillayar Koil Street and is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 4,01,000 would incur a stamp duty of Rs 28,070.