Guideline Value for E.V.R. Periyar Street(Periyar Nagar)

E.V.R. Periyar Street(Periyar Nagar) guideline value

The current guideline value of E.V.R. Periyar Street(Periyar Nagar) is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village, under the Virugambakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of E.V.R. Periyar Street(Periyar Nagar) has changed

The guideline value for E.V.R. Periyar Street(Periyar Nagar) has seen several revisions over the years. Starting from Rs 500 per sq.ft in 2007, it increased significantly to Rs 3,500 per sq.ft in 2012, marking a 600% rise. However, it then decreased to Rs 2,345 per sq.ft in 2017, which was a 33% decline. The value rose again to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,850 per sq.ft after a 10% increase in the 2024 revision.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 670%.

Guideline values in Nesapakkam

Nesapakkam has a total of 148 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, making E.V.R. Periyar Street(Periyar Nagar) above the median value.

• Ganesan Street: Rs 3,300 per sq.ft (2024)
• Eashwari Street: Rs 3,300 per sq.ft (2024)
• Dr. Khanu Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Dr. Khanu Nagar 9th Street: Rs 2,200 per sq.ft (2024)
• Dr. Khanu Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Dr. Khanu Nagar 8th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in E.V.R. Periyar Street(Periyar Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total charges to Rs 3,46,500. It is important to note that 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 Street(Periyar Nagar)?

The Sub Registrar Office covering E.V.R. Periyar Street(Periyar Nagar) is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nesapakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. The guideline value serves as a benchmark for property pricing and helps maintain transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of E.V.R. Periyar Street(Periyar Nagar)?

The current guideline value of E.V.R. Periyar Street(Periyar Nagar) is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, marking a significant increase over the years with various revisions in between.

What is the land classification for E.V.R. Periyar Street(Periyar Nagar)?

E.V.R. Periyar Street(Periyar Nagar) is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for property in E.V.R. Periyar Street(Periyar Nagar)?

For a 1,000 sq.ft plot, the total guideline value is Rs 38,50,000, leading to a stamp duty of Rs 2,69,500 and a registration fee of Rs 77,000, totaling Rs 3,46,500.

Which office handles registrations for E.V.R. Periyar Street(Periyar Nagar)?

The Virugambakkam Sub Registrar Office handles registrations for E.V.R. Periyar Street(Periyar Nagar), located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.