Guideline Value for E.V.R. Street

E.V.R. Street guideline value

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

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

The guideline value for E.V.R. Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the latest 2024 revision has raised it further to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

In summary, from the 2012 revision to the 2024 revision, the overall change is an increase of 8%. The changes between revisions are notable: from 2017 to 2023, there was a significant increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. 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 a 2024 guideline value range from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current value of E.V.R. Street.

• E.V.R. Salai: 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. Street

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

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

The Sub Registrar Office that covers E.V.R. Street 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 a crucial factor in property transactions in Kodungaiyur, 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 these costs are based on an officially recognized value.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of property transactions. This ensures transparency and helps in understanding the financial implications of the sale or purchase.

Frequently asked questions

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

The current guideline value of E.V.R. Street 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 increased 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. Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,43,000.

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

The Madhavaram Sub Registrar Office covers E.V.R. Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of properties and is essential for calculating stamp duty and registration fees during property transactions.