Guideline Value for E.V.R. PERIYAR LANE

E.V.R. Periyar Lane guideline value

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

The guideline value for E.V.R. Periyar Lane has seen several revisions over the years. In 2007, 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 dropped further to Rs 8,040 per sq.ft in 2017, a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 12,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has set the value at Rs 13,200 per sq.ft, an increase of 10% from the previous year.

It is important to note that there are no figures available for E.V.R. Periyar Lane in the years 2002 and 2003. 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. E.V.R. Periyar Lane's 2024 figure is above this median.

• E.V.R.Periyar High Road (A) Poonamalle High Road: Rs 18,100 per sq.ft (2024)
• E.V.R.Periyar Lane (A) Poonamalle High Road Lane: Rs 13,200 per sq.ft (2024)
• E.V.R. Periyar 2nd Lane: Rs 13,200 per sq.ft (2024)
• E.V.R. Periyar 1st 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 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, making the total fees Rs 11,88,000. 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 further assistance.

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

The Sub Registrar Office that covers E.V.R. Periyar 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 critical component in the registration process of property transactions in Purasaivakkam. It serves as a benchmark for assessing the value of properties and is used to calculate the stamp duty and registration fees applicable during the sale or purchase.

When a property is registered, the guideline value is compared with the sale price, and the duty is charged based on the higher of the two. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of E.V.R. Periyar 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 several times, starting from Rs 16,500 per sq.ft in 2007, dropping to Rs 12,000 in 2012, and further down to Rs 8,040 in 2017. It then increased to Rs 12,000 in 2023 and is currently Rs 13,200 in 2024.

What is the land classification of E.V.R. Periyar Lane?

E.V.R. Periyar Lane is classified as Residential Special Type - I, according to the guidelines set by the local authorities.

Where can I find the Purasaivakkam Sub Registrar Office?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in E.V.R. Periyar Lane?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 1,32,00,000 would incur a stamp duty of Rs 9,24,000 at the rate of 7%.