Guideline Value for E.V.R 1st Street

E.V.R 1st Street guideline value

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

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

Looking at the revisions, the guideline value for E.V.R 1st Street has seen several changes over the years. The 2012 revision set the value at Rs 1,300 per sq.ft, but it dropped to Rs 871 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,300 per sq.ft in 2023, and then rose again to Rs 1,400 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is an increase of 8%. The 2023 to 2024 revision reflects an 8% increase, while the jump from 2017 to 2023 shows a substantial rise of 49%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

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, with a median value of Rs 2,200 per sq.ft. The guideline value of E.V.R 1st Street is below this median.

• E.V.R 1st Cross 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 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, and the registration fee at 2% would be Rs 28,000, making the total cost for these fees 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.

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

Which Sub Registrar Office covers E.V.R 1st Street?

The E.V.R 1st Street falls under 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Chembakkam. It is used to determine the stamp duty and registration fees applicable to the property being bought or sold, ensuring that the government receives the appropriate revenue from property transactions.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the necessary fees. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

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

The current guideline value of E.V.R 1st 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 varied over the years, with the most recent increase being from Rs 1,300 per sq.ft in 2023 to Rs 1,400 per sq.ft in 2024, a change of 8%. The value was Rs 871 per sq.ft in 2017 and Rs 1,300 per sq.ft in 2012.

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

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

What are the stamp duty and registration fees for properties on E.V.R 1st Street?

For a property valued at Rs 14,00,000, the stamp duty would be Rs 98,000 and the registration fee would be Rs 28,000, totaling Rs 1,26,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers E.V.R 1st Street?

The Selaiyur Sub Registrar Office covers E.V.R 1st Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.