Guideline Value for EL CASTILLO

El Castillo guideline value

The current guideline value of El Castillo, located in Kovilancheri village under the Tambaram Joint 1 SRO, is Rs 4,110 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - II.

How the guideline value of El Castillo has changed

The guideline value for El Castillo has undergone several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 3,735 per sq.ft, which was an increase from the previous revisions. In the latest 2024 revision, the guideline value rose by 10% to Rs 4,110 per sq.ft.

This increase reflects the ongoing adjustments in property valuations in the region. The rise from Rs 3,735 per sq.ft in 2023 to Rs 4,110 per sq.ft in 2024 indicates a significant change in the valuation for this street.

Guideline values in Kovilancheri

Kovilancheri village features 13 streets under the Tambaram Joint 1 SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 4,130 per sq.ft. The median guideline value for these streets is Rs 1,660 per sq.ft, placing El Castillo's 2024 figure above that median.

• Elite Crystal Gate: Rs 2,750 per sq.ft (2024)
• Durapathyamman Nagar: Rs 1,100 per sq.ft (2024)
• Bhavani Ngar: Rs 1,100 per sq.ft (2024)
• Akshayam Diamond Avenue: Rs 4,130 per sq.ft (2024)
• Aiswarya Nagar: Rs 1,660 per sq.ft (2024)
• Rakeshsharma Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in El Castillo

For a 1,000 sq.ft plot at the current guideline value of Rs 4,110 per sq.ft, the total guideline value amounts to Rs 41,10,000. The stamp duty at 7% would be Rs 2,87,700, and the registration fee at 2% would be Rs 82,200, making the total fees together Rs 3,69,900. 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 more details.

Which Sub Registrar Office covers El Castillo?

The Sub Registrar Office that covers El Castillo is 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 SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property registration in Kovilancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented according to the prevailing market standards.

When buying or selling property, the guideline value impacts the stamp duty and registration fees payable. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of El Castillo?

The current guideline value of El Castillo is Rs 4,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,735 per sq.ft in 2023 to Rs 4,110 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification of El Castillo?

The land classification for El Castillo is Mixed Type - II, indicating the nature of land use in the area.

How is stamp duty calculated for properties in El Castillo?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 2,87,700.

Where is the Sub Registrar Office for El Castillo located?

The Sub Registrar Office for El Castillo is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.