Guideline Value for China Street

China Street guideline value

The current guideline value of China Street in Echur_B 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

In the 2017 revision, the guideline value for China Street was Rs 100 per sq.ft. This figure remained unchanged in the 2023 revision, where it was also Rs 150 per sq.ft. The 2024 revision saw the guideline value remain at Rs 150 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, there was a 50% increase in the guideline value. Overall, from 2017 to 2024, the guideline value has increased by 50% as well, reflecting the same current rate of Rs 150 per sq.ft.

Guideline values in Echur_B

In Echur_B, 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 value for these streets is Rs 150 per sq.ft, placing China Street at the median value for 2024.

• 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, and the registration fee at 2% would be Rs 3,000, bringing the total to Rs 13,500. 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 details.

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 information.

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

The guideline value is a critical factor during the registration of property transactions in Echur_B. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps in determining the minimum price at which the property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the transaction process.

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 for China Street has seen a 50% increase from Rs 100 per sq.ft in 2017 to Rs 150 per sq.ft in both 2023 and 2024. There were no changes recorded in the years 2023 to 2024.

What is the land classification for China Street?

China Street is classified as Residential Class IV Type - I. This classification indicates the type of development permissible on the land.

What is the stamp duty rate for property in China Street?

The stamp duty rate for property transactions in China Street is 7% of the guideline value or sale price, whichever is higher.

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

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