Guideline Value for Beeshmar Street

Beeshmar Street guideline value

The current guideline value of Beeshmar Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - III.

How the guideline value of Beeshmar Street has changed

The guideline value for Beeshmar Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 1,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. However, the value saw a significant increase in the following revisions, reaching Rs 1,500 per sq.ft in 2023 and then rising to Rs 1,650 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the current guideline value of Beeshmar Street.

• Bharathan Street: Rs 1,650 per sq.ft (2024)
• Bharath Avenue Extension: Rs 2,750 per sq.ft (2024)
• Barath Avenue I: Rs 2,750 per sq.ft (2024)
• Barath Avenue: Rs 2,750 per sq.ft (2024)
• Banu Avenue: Rs 1,650 per sq.ft (2024)
• Balu Avenue: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Beeshmar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Beeshmar Street?

The Sub Registrar Office that covers Beeshmar 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

When a property is sold, the guideline value is used to calculate the applicable charges, ensuring that both the buyer and seller are aware of the financial obligations involved in the sale. It is essential to refer to the latest guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Beeshmar Street?

The current guideline value of Beeshmar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Beeshmar Street?

Beeshmar Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Beeshmar Street?

The Sub Registrar Office for Beeshmar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties on Beeshmar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value would be Rs 16,50,000, leading to a stamp duty of Rs 1,15,500 at 7%.