Guideline Value for Pilkinstan Street

Pilkinstan Street guideline value

The current guideline value of Pilkinstan Street in Chinna Sembaram Bakkam village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Sembiam SRO and is classified as Commercial Class I Type - II.

How the guideline value of Pilkinstan Street has changed

The guideline value for Pilkinstan Street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 233%. However, it decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The value then surged to Rs 2,000 per sq.ft in 2023, reflecting an increase of 49%, and further rose to the current value of Rs 2,200 per sq.ft in 2024, a 10% increase.

There are no figures available for Pilkinstan Street in the revisions for 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Chinna Sembaram Bakkam

In Chinna Sembaram Bakkam, there are 37 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 2,700 per sq.ft. The median value for these streets is Rs 1,400 per sq.ft, placing Pilkinstan Street's 2024 figure above this median.

• Ponnusamy Street: Rs 1,100 per sq.ft (2024)
• Ponnuvel Puram 1st Street: Rs 1,100 per sq.ft (2024)
• Ponnuvel Puram 2nd Street: Rs 1,100 per sq.ft (2024)
• Ponnuvel Puram 3rd Street: Rs 1,100 per sq.ft (2024)
• Ponnuvel Puram 4th Street: Rs 1,100 per sq.ft (2024)
• Ponnuvel Puram 5th Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Pilkinstan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Pilkinstan Street?

The Sub Registrar Office covering Pilkinstan Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Chinna Sembaram Bakkam

The guideline value is a crucial factor in property transactions in Chinna Sembaram Bakkam, as it determines the minimum value for registration purposes. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential costs to factor into any property transaction.

Frequently asked questions

What is the current guideline value of Pilkinstan Street?

The current guideline value of Pilkinstan Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 267%.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office is responsible for Pilkinstan Street?

The Sembiam Sub Registrar Office is responsible for Pilkinstan Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification of Pilkinstan Street?

Pilkinstan Street is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.