Guideline Value for E.V.R. Colony Andavar Street

E.V.R. Colony Andavar Street guideline value

The current guideline value of E.V.R. Colony Andavar Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO, and is classified as Residential Class I Type - III.

How the guideline value of E.V.R. Colony Andavar Street has changed

The guideline value for E.V.R. Colony Andavar Street has undergone several revisions over the years. The oldest recorded revision is from 2017, where the guideline value was Rs 1,675 per sq.ft. This increased to Rs 2,500 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for this street in the register for the years 2002, 2003, 2007, and 2012. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value is Rs 2,750 per sq.ft, which is equal to the current guideline value of E.V.R. Colony Andavar Street.

• E.V.R. Colony 3rd Street: Rs 2,750 per sq.ft (2024)
• E.V.R. Colony 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• E.V.R. Colony 2nd Street: Rs 2,750 per sq.ft (2024)
• E.V.R. Colony 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• E.V.R. Colony 1st Street: Rs 2,750 per sq.ft (2024)
• E.V.R. Colony 1st Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in E.V.R. Colony Andavar Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers E.V.R. Colony Andavar Street?

The Sub Registrar Office that covers E.V.R. Colony Andavar Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in the property registration process in Madipakkam-1. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction.

It is essential to be aware that the guideline value may influence the sale price, as it sets a benchmark for property transactions in the area. Buyers and sellers should consider this value when negotiating the terms of a sale.

Frequently asked questions

What is the current guideline value of E.V.R. Colony Andavar Street?

The current guideline value of E.V.R. Colony Andavar Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023, and then to Rs 2,750 per sq.ft in 2024. This indicates a significant increase over the years.

What are the stamp duty and registration fees for property in E.V.R. Colony Andavar Street?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office is responsible for E.V.R. Colony Andavar Street?

The Velacheri Sub Registrar Office is responsible for E.V.R. Colony Andavar Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification of E.V.R. Colony Andavar Street?

E.V.R. Colony Andavar Street is classified as Residential Class I Type - III, indicating its designation for residential use.