Guideline Value for Pillaiyar Kovil Street

Pillaiyar Kovil Street guideline value

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

How the guideline value of Pillaiyar Kovil Street has changed

Over the years, the guideline value for Pillaiyar Kovil Street has seen several revisions. The 2017 revision set the value at Rs 100 per sq.ft, which remained unchanged in the 2023 revision. As of 2024, the guideline value increased to Rs 150 per sq.ft, marking a 50% increase from the 2017 figure.

It is important to note that the register has no figures for the revisions in 2002, 2003, 2007, and 2012. The 2023 to 2024 revision showed no change, maintaining the value at Rs 150 per sq.ft.

Guideline values in Echur_B

In the village of 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, which aligns with the guideline value of Pillaiyar Kovil Street.

• 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 guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty is calculated at 7%, which would be Rs 10,500, and the registration fee at 2% amounts to Rs 3,000. Therefore, the total charges would be Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

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.

You can find your SRO for more information.

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

When buying or selling property in Echur_B, the guideline value plays a crucial role during the registration process. It serves as a benchmark for determining the applicable stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it directly influences the financial obligations involved in property transactions. Ensuring compliance with the guideline value helps in smooth processing during registration at the local SRO.

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 increased from Rs 100 per sq.ft in 2017 to Rs 150 per sq.ft in 2024, reflecting a 50% increase. There has been no change from the 2023 revision to the 2024 revision.

What is the land classification for Pillaiyar Kovil Street?

Pillaiyar Kovil Street is classified as Residential Class IV Type - I. This classification impacts the guideline value and the types of properties permitted in the area.

Which office handles property registrations for Pillaiyar Kovil Street?

The Sunguvarchattram Sub Registrar Office is responsible for property registrations for Pillaiyar Kovil Street. It is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated on property transactions?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.