Guideline Value for Shivashanmugam Pillai Street

Shivashanmugam Pillai Street guideline value

The current guideline value of Shivashanmugam Pillai Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village under the Madhavaram SRO, classified as Residential Class IV Type - I.

How the guideline value of Shivashanmugam Pillai Street has changed

In the 2012 revision, the guideline value was Rs 2,000 per sq.ft. This value decreased to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, followed by another increase to Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% rise. The overall change from 2012 to 2024 is an increase of 10%.

The register has no figures for the years 2002, 2003, and 2007 for this street. The 2023 revision recorded a guideline value of Rs 2,000 per sq.ft, an increase of 49% from the 2017 figure.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median value of Rs 2,500 per sq.ft. The guideline value of Shivashanmugam Pillai Street is below this median.

• Sidco 1st Main Road: Rs 2,200 per sq.ft (2024)
• Sidco 2nd Main Road: Rs 2,200 per sq.ft (2024)
• Sidco 3rd Main Road: Rs 2,200 per sq.ft (2024)
• Sidco Main Road: Rs 2,200 per sq.ft (2024)
• Singara Garden 1st Street: Rs 1,900 per sq.ft (2024)
• Singara Garden 2nd Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Shivashanmugam Pillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Shivashanmugam Pillai Street?

The Shivashanmugam Pillai Street falls under the Madhavaram Sub Registrar Office located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is essential when registering property transactions in Erukancherry. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property transfer process.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected based on the established rates. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Shivashanmugam Pillai Street?

The current guideline value of Shivashanmugam Pillai Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the stamp duty on property in Shivashanmugam Pillai Street?

The stamp duty on property in Shivashanmugam Pillai Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Madhavaram Sub Registrar Office covers Shivashanmugam Pillai Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Shivashanmugam Pillai Street?

Shivashanmugam Pillai Street is classified as Residential Class IV Type - I.