Guideline Value for E.V.P Sriram Nagar

E.V.P Sriram Nagar guideline value

The current guideline value of E.V.P Sriram Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village and falls under the Padappai SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of E.V.P Sriram Nagar has changed

The guideline value for E.V.P Sriram Nagar has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 120 per sq.ft, which saw a significant increase to Rs 1,200 per sq.ft in 2012, marking a rise of 900%. However, in the 2017 revision, the value decreased to Rs 804 per sq.ft, a drop of 33%. The value then increased to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,320 per sq.ft from the 2024 revision, reflecting a 10% increase.

Notably, there are no figures available for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 1000%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing E.V.P Sriram Nagar's 2024 figure below that median.

• Euyropa Carmel Layout: Rs 1,650 per sq.ft (2024)
• Eswari Nagar: Rs 1,100 per sq.ft (2024)
• Fortune Residency: Rs 1,650 per sq.ft (2024)
• Gajalakshmi Nagar: Rs 1,320 per sq.ft (2024)
• Gajalakshmi Nagar @ Marvel County: Rs 1,320 per sq.ft (2024)
• Elumalai Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in E.V.P Sriram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers E.V.P Sriram Nagar?

The Sub Registrar Office that covers E.V.P Sriram Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Varadarajapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value in the eyes of the government.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications involved in the registration process.

Frequently asked questions

What is the current guideline value of E.V.P Sriram Nagar?

The current guideline value of E.V.P Sriram Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 120 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 1000% over the years.

What is the land classification for E.V.P Sriram Nagar?

The land classification for E.V.P Sriram Nagar is Residential Class I Type - I, indicating its designation for residential use.

What are the stamp duty and registration fees for property in E.V.P Sriram Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 13,20,000, with a stamp duty of Rs 92,400 and a registration fee of Rs 26,400, totaling Rs 1,18,800.

Which office handles property registrations for E.V.P Sriram Nagar?

The Padappai Sub Registrar Office handles property registrations for E.V.P Sriram Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.