Guideline Value for E.V.R. PERIYAR 2ND LANE

E.V.R. Periyar 2nd Lane guideline value

The current guideline value of E.V.R. Periyar 2nd Lane is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of E.V.R. Periyar 2nd Lane has changed

The guideline value for E.V.R. Periyar 2nd Lane has seen several revisions over the years. In 2007, the guideline value was Rs 16,500 per sq.ft, which then decreased to Rs 12,000 per sq.ft in 2012, reflecting a reduction of 27%. Following this, the value further dropped to Rs 8,040 per sq.ft in 2017, marking a decrease of 33% from the previous revision. There are no figures available for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased significantly by 49%, reaching Rs 12,000 per sq.ft. The most recent revision in 2024 has seen the value rise to Rs 13,200 per sq.ft, which is a 10% increase from the 2023 figure. 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. The median guideline value in this area is Rs 5,500 per sq.ft, indicating that E.V.R. Periyar 2nd Lane's 2024 figure is above this median.

• E.V.R. Periyar 1st 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 2nd 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. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

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

The E.V.R. Periyar 2nd Lane is covered by the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that the guideline value is used to calculate these costs, ensuring compliance with local regulations.

When a property is sold, the guideline value helps in establishing a fair assessment for taxation purposes. It is important for both parties involved in the transaction to understand how the guideline value influences the financial aspects of the sale, including the fees payable to the registration office.

Frequently asked questions

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

The current guideline value of E.V.R. Periyar 2nd 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 undergone several revisions, starting from Rs 16,500 per sq.ft in 2007, dropping to Rs 12,000 in 2012, and further decreasing to Rs 8,040 in 2017. It then increased to Rs 12,000 in 2023 and finally to Rs 13,200 in 2024.

What is the land classification for E.V.R. Periyar 2nd Lane?

The land classification for E.V.R. Periyar 2nd Lane is Residential Special Type - I, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for properties in E.V.R. Periyar 2nd Lane?

For a property valued at Rs 1,32,00,000, the stamp duty would be Rs 9,24,000 and the registration fee would be Rs 2,64,000, totaling Rs 11,88,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for E.V.R. Periyar 2nd Lane?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, handles registrations for E.V.R. Periyar 2nd Lane.