Guideline Value for Pillaiyar Kovil Street

Pillaiyar Kovil Street guideline value

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

How the guideline value of Pillaiyar Kovil Street has changed

The guideline value for Pillaiyar Kovil Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 150 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 100 per sq.ft. This was followed by a significant increase of 50% in the 2023 revision, bringing the value back to Rs 150 per sq.ft, which has been maintained into the 2024 revision.

Notably, there are no figures available for the years 2002, 2003, and 2007 regarding this street. Thus, the guideline value has remained stable at Rs 150 per sq.ft from 2012 to 2024, despite fluctuations in the earlier years.

Guideline values in Echur

Echur village has a total of 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 across these streets is Rs 150 per sq.ft, making Pillaiyar Kovil Street's value equal to this median.

• Periya Street: Rs 150 per sq.ft (2024)
• Prasanthi Nagar: Rs 300 per sq.ft (2024)
• Pallikooda Street: Rs 150 per sq.ft (2024)
• Risemil Street: Rs 200 per sq.ft (2024)
• Road Street: Rs 200 per sq.ft (2024)
• Natham Kuppam Colony: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar Kovil Street

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

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

Which Sub Registrar Office covers Pillaiyar Kovil Street?

The Sub Registrar Office that covers Pillaiyar Kovil Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Echur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

During the registration process, buyers and sellers must consider the guideline value, as it impacts the stamp duty and registration fees. This ensures that both parties are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of Pillaiyar Kovil Street?

The current guideline value of Pillaiyar Kovil 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 the 2012 revision, increased to Rs 100 per sq.ft in 2017, and then returned to Rs 150 per sq.ft in 2023, with no changes in 2024.

What is the land classification for Pillaiyar Kovil Street?

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

Which office handles the registration for properties in Echur?

The registration for properties in Echur is handled by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in Pillaiyar Kovil Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 150 per sq.ft, the total guideline value would be Rs 1,50,000, leading to a stamp duty of Rs 10,500.