Guideline Value for E.V.R. Colony

E.V.R. Colony guideline value

The current guideline value of E.V.R. Colony, located in Madipakkam-1 village under the Velacheri SRO, is Rs 2,750 per sq.ft. This figure is effective from the 2024 revision, which will be applicable starting 1 July 2024. The land classification for this area is Residential Class I Type - III.

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

The guideline value for E.V.R. Colony has undergone several revisions over the years. However, the register has no figure for this street in the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision in 2024 sets the guideline value at Rs 2,750 per sq.ft.

Since there are no figures available for the previous revisions, it is important to note that the current value is equal to the median guideline value of Rs 2,750 per sq.ft for the 1823 streets in Madipakkam-1 under the Velacheri SRO.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values range from Rs 1,650 to Rs 5,500 per sq.ft, with the median value being Rs 2,750 per sq.ft. E.V.R. Colony's 2024 figure aligns with this median. The following are the guideline values for other streets in Madipakkam-1:

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total 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, making the total cost Rs 2,47,500. 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. Colony?

The E.V.R. Colony area falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, you can visit find your SRO.

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

When buying or selling property in Madipakkam-1, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the applicable stamp duty and registration fees that must be paid to the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of property transactions. Proper understanding of these values ensures compliance with local regulations and helps in accurate financial planning.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value for E.V.R. Colony has had no figures recorded in the revisions from 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision in 2024 sets the value at Rs 2,750 per sq.ft.

What are the guideline values for other streets in Madipakkam-1?

Other streets in Madipakkam-1 have a guideline value of Rs 2,750 per sq.ft as well, which is consistent across multiple streets in the area.

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

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 should I approach for E.V.R. Colony?

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