Guideline Value for Pari Street

Pari Street guideline value

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

How the guideline value of Pari Street has changed

The guideline value of Pari Street has undergone several revisions over the years. In 2012, the value was Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. The 2023 revision saw a significant increase to Rs 1,500 per sq.ft, followed by another increase to Rs 1,650 per sq.ft in 2024, marking a 10% rise from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. Notably, the revision register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

Chitlapakkam village has a total of 548 streets under the Tambaram Joint 1 SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is the same as the current value for Pari Street.

• Pari Cross Street: Rs 1,650 per sq.ft (2024)
• Parthipan Street: Rs 1,100 per sq.ft (2024)
• Paranar Street: Rs 2,750 per sq.ft (2024)
• Pandithar Street: Rs 1,650 per sq.ft (2024)
• Pamban Swamigal Street: Rs 3,850 per sq.ft (2024)
• Pamban Swamigal salai: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Pari 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 be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Pari Street?

The Sub Registrar Office that covers Pari 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 is a crucial factor in property transactions in Chitlapakkam. It serves as the minimum value for which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps determine the applicable stamp duty, which is calculated based on the higher of the guideline value or the sale price. This ensures transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Pari Street?

The current guideline value of Pari 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 increased 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 for Pari Street?

Pari Street is classified as Residential Class I Type - III, indicating its designation for residential use.

Where can I find information about the registration office?

The registration office for Pari 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 in Chitlapakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 16,50,000, the stamp duty at 7% would amount to Rs 1,15,500.