Guideline Value for Fisherman Street

Fisherman Street guideline value

The current guideline value of Fisherman Street in Parangimalai village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class III Type - I.

How the guideline value of Fisherman Street has changed

Fisherman Street has undergone several revisions in its guideline value over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 2,500 per sq.ft. This figure remained until the 2017 revision, which saw a decrease to Rs 1,675 per sq.ft. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, marking a 49% rise from the 2017 figure. The most recent revision in 2024 brought the guideline value to Rs 2,750 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there are no recorded figures for Fisherman Street in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that have a guideline value for 2024, ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,850 per sq.ft, placing Fisherman Street's 2024 figure below this median.

• Ex-Serviceman Colony 1st To 3rd Street: Rs 3,850 per sq.ft (2024)
• European Lane: Rs 3,850 per sq.ft (2024)
• Gandhi Market: Rs 4,400 per sq.ft (2024)
• Gandhi Nagar: Rs 4,400 per sq.ft (2024)
• Eswaran Koil Street: Rs 2,750 per sq.ft (2024)
• Gandhi Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Fisherman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total cost for these fees Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Fisherman Street?

The Sub Registrar Office that covers Fisherman Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Parangimalai. 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 a property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers and sellers to be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Fisherman Street?

The current guideline value of Fisherman Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the median guideline value in Parangimalai?

The median guideline value in Parangimalai is Rs 3,850 per sq.ft, which is higher than the current value of Fisherman Street.

What are the stamp duty and registration fees for Fisherman Street?

The stamp duty for a property valued at Rs 27,50,000 is Rs 1,92,500, and the registration fee is Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office for Fisherman Street located?

The Sub Registrar Office for Fisherman Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.