Guideline Value for PICHANDI STREET

Pichandi Street guideline value

The current guideline value of Pichandi Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Pichandi Street has changed

Since the early revisions, the guideline value for Pichandi Street has seen significant changes. In 2002, the guideline value was Rs 336 per sq.ft, which increased to Rs 369 per sq.ft in 2003, marking a 10% rise. The value then rose to Rs 550 per sq.ft in 2007, reflecting a 49% increase. By 2012, the guideline value remained at Rs 2,500 per sq.ft, showing no change from the previous revision. The next revision in 2023 also held the value steady at Rs 2,500 per sq.ft.

In 2024, the guideline value was revised to Rs 2,700 per sq.ft, representing an 8% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 704% for Pichandi Street.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which matches the current guideline value for Pichandi Street.

• Perumal Ayalu Street: Rs 2,700 per sq.ft (2024)
• Polaramman Street: Rs 3,200 per sq.ft (2024)
• Polu Naicken Street: Rs 4,900 per sq.ft (2024)
• Periyar Street: Rs 4,300 per sq.ft (2024)
• Ponnappa Mudali Street: Rs 3,800 per sq.ft (2024)
• Ponnappan Lane: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Pichandi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value is Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. The duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pichandi Street?

The Sub Registrar Office that covers Pichandi Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Perambur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded at a fair value as per government regulations.

When buying or selling property, the guideline value helps in assessing the transaction's legitimacy and compliance with local regulations. Buyers and sellers must consider this value to avoid disputes during the registration process.

Frequently asked questions

What is the current guideline value for Pichandi Street?

The current guideline value for Pichandi Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 336 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 704%.

What is the land classification for Pichandi Street?

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

Where can I find the registration office for Pichandi Street?

The registration office covering Pichandi Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Pichandi Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at a rate of 7%.