Guideline Value for Road Street

Road Street guideline value

The current guideline value of Road Street in Echur village is Rs 200 per sq.ft, effective from 1 July 2024. This property falls under the jurisdiction of the Sunguvarchattram SRO and is classified as Residential Class II Type - I.

How the guideline value of Road Street has changed

The guideline value for Road Street has seen several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 200 per sq.ft. The 2017 revision marked a significant increase to Rs 134 per sq.ft, but the value reverted to Rs 200 per sq.ft in 2012 and has not changed since then. The register has no figures for the years 2002, 2003, and 2007.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. However, from the 2023 revision to the 2024 revision, there was no change, maintaining the value at Rs 200 per sq.ft. Overall, from the 2012 revision to the 2024 revision, the guideline value remains unchanged at Rs 200 per sq.ft.

Guideline values in Echur

In Echur, 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 guideline value in the village is Rs 150 per sq.ft, placing Road Street's 2024 figure above this median.

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

Stamp duty and registration fee for property in Road Street

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

The Sub Registrar Office covering Road 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 further assistance.

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

The guideline value is a crucial factor in property transactions in Echur. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers must pay these fees based on the higher of the guideline value or the sale price, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Road Street?

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

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since 2012, with a significant increase of 49% from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023. There has been no change from 2023 to 2024.

What is the land classification for Road Street?

Road Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where is the Sub Registrar Office for Road Street located?

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

How is the stamp duty calculated for properties in Echur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 2,00,000, the stamp duty at 7% would be Rs 14,000.