Guideline Value for China Street

China Street guideline value

The current guideline value of China Street in Echur village is Rs 150 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Sunguvarchattram SRO and is classified as Residential Class IV Type - I.

How the guideline value of China Street has changed

Over the years, the guideline value of China Street has seen several revisions. The most recent revision in 2024 maintains the guideline value at Rs 150 per sq.ft, which is the same as the 2023 revision. Prior to that, in 2017, the guideline value was Rs 100 per sq.ft, indicating a 50% increase from 2017 to 2023. The 2012 revision also set the value at Rs 150 per sq.ft, which means there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 150 per sq.ft.

The register has no figures for the years 2002, 2003, and 2007 regarding the guideline value of China Street. This lack of data indicates that there were no recorded changes during those years.

Guideline values in Echur

In Echur, there are 26 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 300 per sq.ft. The median guideline value for these streets is Rs 150 per sq.ft, placing China Street at the median value.

• China Colony Mariamman kovil Street: Rs 150 per sq.ft (2024)
• Eshwaran Kovil Street: Rs 150 per sq.ft (2024)
• Ayyar Street: Rs 150 per sq.ft (2024)
• Gangaiamman Kovil Street: Rs 150 per sq.ft (2024)
• Arokiamatha Kovil Street: Rs 150 per sq.ft (2024)
• Ambethkar Nagar: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in China Street

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty, charged at 7%, would be Rs 10,500, while the registration fee at 2% would be Rs 3,000, bringing the total fees to Rs 13,500. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers China Street?

The Sub Registrar Office that covers China Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Echur. It serves as a benchmark for determining the value of the property for registration purposes, ensuring that transactions are conducted transparently and fairly.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are necessary for legal documentation. This ensures that both buyers and sellers are aware of the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of China Street?

The current guideline value of China Street is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft since 2012, with a notable increase from Rs 100 per sq.ft in 2017 to Rs 150 per sq.ft in 2023. The value has not changed from 2023 to 2024.

What is the classification of land on China Street?

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

Where can I find the Sub Registrar Office for China Street?

The Sub Registrar Office for China Street is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated on property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 1,50,000, the stamp duty at 7% would be Rs 10,500.