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 7,100 per sq.ft, effective from 1 July 2024. This locality is situated in 1. Nolambur village under the Villivakkam SRO, and is classified as Residential Special Type - I.

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

The guideline value for E.V.P. Sriram Nagar has seen significant changes over the years. The 2017 revision set the value at Rs 4,355 per sq.ft, which was increased to Rs 6,500 per sq.ft in the 2023 revision. The latest revision in 2024 has raised the guideline value to Rs 7,100 per sq.ft, marking a 9% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 63%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The 2023 revision shows a 49% increase from the 2017 figure, reflecting the growing value of the area.

Guideline values in 1. Nolambur

In 1. Nolambur, there are 73 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, which is equal to the guideline value of E.V.P. Sriram Nagar.

• Gajalakshmi Nagar Extn: Rs 3,700 per sq.ft (2024)
• Galaxy Apartments (S.No.327): Rs 7,100 per sq.ft (2024)
• Dr.J.J.Nagar Phase I (Jaswanth Nagar to Vembuliamman Koil St): Rs 8,800 per sq.ft (2024)
• Dr.J.J.Nagar Phase II (Nolambur Housing Scheme, TNHB, LIG,MIG,HIG.etc): Rs 8,800 per sq.ft (2024)
• Gokulam Phase I: Rs 7,100 per sq.ft (2024)
• Gokulam Phase II: Rs 7,100 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 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value and 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 Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value plays a crucial role in the registration process of property transactions in 1. Nolambur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid, ensuring that all transactions are in compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property registration. This value is periodically revised to reflect changes in the real estate market, ensuring that it remains relevant and accurate.

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 7,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 4,355 per sq.ft in 2017 to Rs 7,100 per sq.ft in 2024, marking a total increase of 63% over this period.

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

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 6,39,000, which includes a stamp duty of Rs 4,97,000 and a registration fee of Rs 1,42,000.

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

The Villivakkam Sub Registrar Office covers E.V.P. Sriram Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

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

E.V.P. Sriram Nagar is classified as Residential Special Type - I, which indicates its designation for residential purposes within the area.