Guideline Value for E.V.R 2nd Cross Street

E.V.R 2nd Cross Street guideline value

The current guideline value of E.V.R 2nd Cross 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 2nd Cross Street has changed

The guideline value for E.V.R 2nd Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,300 per sq.ft, which was then reduced to Rs 871 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,300 per sq.ft, and the most recent revision in 2024 has raised it to Rs 1,400 per sq.ft, marking an 8% increase from the previous year.

From the 2017 revision to 2023, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register does not have 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 2nd Cross Street is below this median.

• E.V.R 1st Street: Rs 1,400 per sq.ft (2024)
• E.V.R 2nd Street: Rs 1,400 per sq.ft (2024)
• E.V.R 1st Cross 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 2nd 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, and the registration fee at 2% would be Rs 28,000, bringing the total to Rs 1,26,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers E.V.R 2nd Cross Street?

The E.V.R 2nd 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 information.

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

The guideline value is an essential factor in the registration process of property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is crucial to be aware of the guideline value, as it impacts the costs associated with registration. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of E.V.R 2nd Cross Street?

The current guideline value of E.V.R 2nd 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, marking an 8% increase. It was previously Rs 871 per sq.ft in 2017 and Rs 1,300 per sq.ft in 2012.

What is the land classification for E.V.R 2nd Cross Street?

E.V.R 2nd Cross Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties here?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the total cost would be Rs 1,26,000.

Where is the Sub Registrar Office for E.V.R 2nd Cross Street located?

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