Guideline Value for E.V.R. PERIYAR 1ST LANE

E.V.R. Periyar 1st Lane guideline value

The current guideline value of E.V.R. Periyar 1st Lane is Rs 13,200 per sq.ft, effective from 1 July 2024. This lane is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Special Type - I.

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

The guideline value for E.V.R. Periyar 1st Lane has seen several revisions over the years. In the 2007 revision, the value was Rs 16,500 per sq.ft, which decreased to Rs 12,000 per sq.ft in 2012, marking a decline of 27%. The value then further decreased to Rs 8,040 per sq.ft in the 2017 revision, a drop of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 12,000 per sq.ft. The most recent revision in 2024 saw another increase of 10%, setting the current value at Rs 13,200 per sq.ft.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has decreased by 20%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median value of Rs 5,500 per sq.ft. The guideline value of E.V.R. Periyar 1st Lane is above this median.

• E.V.R. Periyar 2nd Lane: Rs 13,200 per sq.ft (2024)
• E.V.R.Periyar High Road (A) Poonamalle High Road: Rs 18,100 per sq.ft (2024)
• E.V.R. Periyar Lane: Rs 13,200 per sq.ft (2024)
• E.V.R.Periyar Lane (A) Poonamalle High Road Lane: Rs 13,200 per sq.ft (2024)
• E.V.K Sampath Street (A) Rundalls Road Part: Rs 14,300 per sq.ft (2024)
• Ethiraj Garden Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in E.V.R. Periyar 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. Please 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 details.

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

The Sub Registrar Office that covers E.V.R. Periyar 1st Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs associated with property transactions. Buyers should always consider the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of E.V.R. Periyar 1st Lane is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 16,500 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, reflecting a 20% decrease overall. The most recent revision in 2024 saw an increase of 10% from the 2023 value of Rs 12,000 per sq.ft.

What is the land classification for E.V.R. Periyar 1st Lane?

E.V.R. Periyar 1st Lane is classified as Residential Special Type - I, indicating its intended use for residential purposes.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in E.V.R. Periyar 1st Lane is 7%, which is applied to the higher of the guideline value or the sale price during registration.

Where can I find the Sub Registrar Office for E.V.R. Periyar 1st Lane?

The Sub Registrar Office covering E.V.R. Periyar 1st Lane is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. This office handles all registration activities for properties in this area.