Guideline Value for Risemil Street

Risemil Street guideline value

The current guideline value of Risemil Street is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Echur_B village and falls under the Sunguvarchattram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Risemil Street has changed

In the 2017 revision, the guideline value for Risemil Street was Rs 134 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 200 per sq.ft. The most recent revision in 2024 also set the guideline value at Rs 200 per sq.ft, indicating no change from the previous year. The overall change from 2017 to 2024 is an increase of 49%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The significant increase from Rs 134 in 2017 to Rs 200 in 2024 highlights the changes in the guideline value over the years.

Guideline values in Echur_B

In Echur_B, there are 26 streets under the Sunguvarchattram SRO that have a guideline value for 2024, ranging from Rs 150 to Rs 300 per sq.ft. The median guideline value for these streets is Rs 150 per sq.ft, making Risemil Street's 2024 figure above that median.

• Road Street: Rs 200 per sq.ft (2024)
• Santhiamman Kovil Street: Rs 150 per sq.ft (2024)
• Prasanthi Nagar: Rs 300 per sq.ft (2024)
• Pillaiyar Kovil Street: Rs 150 per sq.ft (2024)
• Sharma Nagar: Rs 300 per sq.ft (2024)
• Periya Street: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Risemil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees together to Rs 18,000. 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 Risemil Street?

The Sub Registrar Office that covers Risemil 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_B

The guideline value is a crucial factor in the registration of property transactions in Echur_B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Risemil Street?

The current guideline value of Risemil Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Risemil Street was Rs 134 per sq.ft in 2017, which increased to Rs 200 per sq.ft in both the 2023 and 2024 revisions. This represents a 49% increase overall from 2017 to 2024.

What are the guideline values for other streets in Echur_B?

In Echur_B, the guideline values for other streets range from Rs 150 to Rs 300 per sq.ft. Risemil Street's value of Rs 200 per sq.ft is above the median value of Rs 150 per sq.ft for the area.

What fees are associated with buying property on Risemil Street?

When buying property on Risemil Street, the total fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, these fees would total Rs 18,000.

Which office handles the registration for Risemil Street?

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