Guideline Value for E.V.R 2nd Street

E.V.R 2nd Street guideline value

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

Over the years, the guideline value of E.V.R 2nd Street has seen several revisions. 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 that, the 2023 revision increased the value to Rs 1,300 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,400 per sq.ft, marking an 8% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. However, the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%. There are no figures available for the revisions in 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 Street is below this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 1,400 per sq.ft, the guideline value would be Rs 14,00,000. The stamp duty at 7% would amount to 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 the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use our stamp duty and registration fee calculator.

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

The E.V.R 2nd 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

When you buy or sell property in Chembakkam, the guideline value is a crucial factor during the registration process. It serves as a benchmark to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation rather than the sale price alone.

The guideline value helps maintain transparency in property transactions, providing a standardized reference for both buyers and sellers. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of E.V.R 2nd 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 Rs 871 per sq.ft in 2017 and Rs 1,300 per sq.ft in 2012.

What are the other streets in Chembakkam with similar guideline values?

Other streets in Chembakkam with a guideline value of Rs 1,400 per sq.ft in 2024 include E.V.R 2nd Cross Street, E.V.R Cross Street, E.V.R 1st Street, E.V.R 1st Cross Street, and E.V.R. Street. E.V.R. Nagammai Street has a higher value of Rs 2,400 per sq.ft.

What are the stamp duty and registration fees for a property in E.V.R 2nd Street?

The stamp duty for a property valued at Rs 14,00,000 would be Rs 98,000, and the registration fee would be Rs 28,000, totaling Rs 1,26,000. This is based on the current guideline value.

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

The Sub Registrar Office covering E.V.R 2nd Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.