Guideline Value for E.V.R. Salai

E.V.R. Salai guideline value

The current guideline value of E.V.R. Salai is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village and falls under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

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

The guideline value for E.V.R. Salai has undergone several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017. In 2023, the value increased to Rs 2,500 per sq.ft, and as of the 2024 revision, it stands at Rs 2,700 per sq.ft.

From 2017 to 2023, there was a significant increase of 49%. The change from 2023 to 2024 reflects an 8% increase. Overall, comparing the 2012 figure to the current 2024 value, there has been an 8% increase over the years. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for the area is Rs 2,700 per sq.ft, which is the same as the current value for E.V.R. Salai.

• E.V.R. Street: Rs 2,700 per sq.ft (2024)
• Ezhil Nagar A Block 10th Street: Rs 2,200 per sq.ft (2024)
• Ezhil Nagar A Block 11th Street: Rs 2,200 per sq.ft (2024)
• Ezhil Nagar A Block 12th Street: Rs 2,200 per sq.ft (2024)
• Ezhil Nagar A Block 13th Street: Rs 2,200 per sq.ft (2024)
• Ezhil Nagar A Block 14th Street: Rs 2,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would amount to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers E.V.R. Salai?

The Sub Registrar Office covering E.V.R. Salai is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Kodungaiyur. It determines the minimum value at which the property can be registered, ensuring that the transaction is recorded accurately in the government records.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of E.V.R. Salai is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What are the stamp duty and registration fees for E.V.R. Salai?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles registrations for E.V.R. Salai?

The Madhavaram Sub Registrar Office handles registrations for E.V.R. Salai, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for E.V.R. Salai?

The land classification for E.V.R. Salai is Residential Class I Type - I, indicating its suitability for residential development.