Guideline Value for Pichan Street

Pichan Street guideline value

The current guideline value of Pichan Street in Adambakkam village, under the Alandur SRO, is Rs 5,000 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Pichan Street has changed

The guideline value for Pichan Street has seen several revisions over the years. In 2002, the value was Rs 307 per sq.ft, which increased to Rs 350 per sq.ft in 2003, marking a 14% rise. The value further rose significantly to Rs 900 per sq.ft in 2007, reflecting a 157% increase. In 2012, the guideline value was Rs 4,500 per sq.ft, showing a substantial 400% increase from the previous revision. However, this value saw a decrease of 33% to Rs 3,015 per sq.ft in 2017. The 2023 revision set the value at Rs 4,500 per sq.ft, which was an increase of 49% from the 2017 figure.

The most recent revision in 2024 has set the guideline value at Rs 5,000 per sq.ft, representing an 11% increase from the 2023 revision. There are no figures available for the years not mentioned in this summary for Pichan Street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, making Pichan Street's 2024 figure above this median.

• Pillaiyar Koil Street: Rs 3,900 per sq.ft (2024)
• Periyar Street: Rs 2,800 per sq.ft (2024)
• Ponniyamman Koil Lane: Rs 3,900 per sq.ft (2024)
• Ponniyamman Koil Street: Rs 3,900 per sq.ft (2024)
• Pazhavanthangal Road: Rs 3,900 per sq.ft (2024)
• Pudhupettai Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Pichan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would amount to Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total to Rs 4,50,000. It is important to note that the 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 Pichan Street?

The Sub Registrar Office that covers Pichan Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Adambakkam. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these charges are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly influences the financial obligations during the registration process. Understanding these values can help in making informed decisions when engaging in property transactions.

Frequently asked questions

What is the current guideline value of Pichan Street?

The current guideline value of Pichan Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Pichan Street has changed from Rs 307 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 1529% over the years.

What is the land classification for Pichan Street?

Pichan Street falls under the Residential Class I Type - I land classification, indicating its designation for residential use.

What are the stamp duty and registration fees for properties in Pichan Street?

For a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000 and the registration fee would be Rs 1,00,000, totaling Rs 4,50,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Pichan Street located?

The Sub Registrar Office covering Pichan Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.