Guideline Value for E.V.R 1st Cross Street

E.V.R 1st Cross Street guideline value

The current guideline value of E.V.R 1st Cross Street in Chembakkam village is Rs 1,400 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur Sub Registrar Office and is classified as Residential Class II Type - II.

How the guideline value of E.V.R 1st Cross Street has changed

The guideline value for E.V.R 1st Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,300 per sq.ft, which decreased to Rs 871 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 1,300 per sq.ft. The latest revision in 2024 has further increased the value to Rs 1,400 per sq.ft, marking an 8% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in the village is Rs 2,200 per sq.ft, indicating that the guideline value of E.V.R 1st Cross Street is below this median.

• E.V.R 1st Street: Rs 1,400 per sq.ft (2024)
• E.V.R 2nd Cross Street: Rs 1,400 per sq.ft (2024)
• E.V.R 2nd Street: Rs 1,400 per sq.ft (2024)
• E.V.R Cross Street: Rs 1,400 per sq.ft (2024)
• E.V.R. Nagammai Street: Rs 2,400 per sq.ft (2024)
• E.V.R. Street: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in E.V.R 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value amounts to Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, while the registration fee at 2% would be Rs 28,000, bringing the total to Rs 1,26,000. 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.R 1st Cross Street?

The E.V.R 1st Cross Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official registry.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, making it essential to understand the current guideline value for accurate financial planning.

Frequently asked questions

What is the current guideline value of E.V.R 1st Cross Street?

The current guideline value of E.V.R 1st Cross Street is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2023 to Rs 1,400 per sq.ft in 2024, reflecting an 8% increase. It was Rs 871 per sq.ft in 2017, showing a 49% increase from that year to 2023.

What is the land classification for E.V.R 1st Cross Street?

E.V.R 1st Cross Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Chembakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 14,00,000, the stamp duty would be Rs 98,000 at a rate of 7%.