Guideline Value for E.V. Ramaswamy Street (Gayathiri Nagar)

E.V. Ramaswamy Street (Gayathiri Nagar) guideline value

The current guideline value of E.V. Ramaswamy Street (Gayathiri Nagar) is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village under the Ambattur SRO and is classified as Residential Class II Type - II.

How the guideline value of E.V. Ramaswamy Street (Gayathiri Nagar) has changed

Over the years, the guideline value of E.V. Ramaswamy Street has seen several revisions. The 2007 revision set the value at Rs 400 per sq.ft, which increased to Rs 800 per sq.ft in 2012. However, from 2012 to 2017, there was a significant decrease of 33%, bringing the value down to Rs 536 per sq.ft. The value then rose by 49% to Rs 800 per sq.ft in 2023, and the latest revision in 2024 has increased it to Rs 880 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 120%.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, making the guideline value of E.V. Ramaswamy Street (Gayathiri Nagar) below the median.

• Ezhil Nagar: Rs 1,300 per sq.ft (2024)
• Ezhil nagar(1st,2nd,3rd street): Rs 1,300 per sq.ft (2024)
• Ezhil nagar 4th street(Ezhil nagar): Rs 1,300 per sq.ft (2024)
• Ezhil nagar 5th street(Ezhil nagar): Rs 1,300 per sq.ft (2024)
• Ezhil nagar 6th street(Ezhil nagar): Rs 1,300 per sq.ft (2024)
• Ezhil nagar 7th street(Ezhil nagar): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in E.V. Ramaswamy Street (Gayathiri Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total charges to Rs 79,200. Please note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers E.V. Ramaswamy Street (Gayathiri Nagar)?

The Sub Registrar Office that covers E.V. Ramaswamy Street (Gayathiri Nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Ayappakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value helps in assessing the transaction value for taxation purposes. Buyers and sellers must be aware of this value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of E.V. Ramaswamy Street (Gayathiri Nagar)?

The current guideline value of E.V. Ramaswamy Street (Gayathiri Nagar) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 8,80,000, the stamp duty is Rs 61,600, and the registration fee is Rs 17,600, totaling Rs 79,200.

Which office handles registrations for E.V. Ramaswamy Street?

The Ambattur Sub Registrar Office handles registrations for E.V. Ramaswamy Street (Gayathiri Nagar), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How does the guideline value affect property transactions?

The guideline value sets the minimum registration value for properties, affecting the stamp duty and registration fees payable during transactions. It is essential for buyers and sellers to consider this value when engaging in property sales.