Guideline Value for pishmar street

Pishmar Street guideline value

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

How the guideline value of Pishmar Street has changed

The guideline value for Pishmar Street has seen 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. Following this, there was a significant increase to Rs 1,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 1,650 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From the 2012 revision to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The change from 2023 to 2024 reflects a 10% increase, resulting in the current guideline value being equal to the median value of Rs 1,650 per sq.ft for the village.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which aligns with the guideline value of Pishmar Street.

• Pirathip Avenue(Kalyanasundharam street): Rs 1,650 per sq.ft (2024)
• Pirai Kanagaraj Avenue: Rs 2,750 per sq.ft (2024)
• Pillayar Koil Street: Rs 2,750 per sq.ft (2024)
• Ponniamman Nagar: Rs 1,650 per sq.ft (2024)
• Ponniamman NagarExt 1: Rs 1,650 per sq.ft (2024)
• Ponniamman Nagar Ext-II: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Pishmar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to 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 charges Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Pishmar Street?

Pishmar Street falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your specific SRO, you can visit this link.

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, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Accurate knowledge of these values ensures that all legal requirements are met during the registration process.

Frequently asked questions

What is the current guideline value of Pishmar Street?

The current guideline value of Pishmar 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 several times, with the most recent increase being from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, a 10% increase. The value was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the land classification of Pishmar Street?

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

What are the stamp duty and registration fees for property in Pishmar Street?

For a 1,000 sq.ft plot, the guideline value is Rs 16,50,000. The stamp duty is Rs 1,15,500 and the registration fee is Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers Pishmar Street?

Pishmar Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.