Guideline Value for E.V.R.Periyar Street

E.V.R.Periyar Street guideline value

The current guideline value of E.V.R.Periyar Street in Ramapuram village is Rs 3,550 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class I Type - II.

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

The guideline value for E.V.R.Periyar Street has seen significant changes over the years. The 2012 revision set the value at Rs 3,200 per sq.ft, which was a decrease of 33% from the Rs 2,144 per sq.ft established in the 2017 revision. The value remained the same in 2012 and was revised to Rs 3,200 per sq.ft in 2023, before increasing to Rs 3,550 per sq.ft in the 2024 revision, marking an 11% rise.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO, with guideline values ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value is Rs 3,100 per sq.ft, placing E.V.R.Periyar Street's 2024 figure above this median.

• Evr Street: Rs 3,550 per sq.ft (2024)
• Evr Periyar 1st Cross Street: Rs 3,550 per sq.ft (2024)
• E.V.P.Santhosh Nagar 1 to 4 Street: Rs 3,550 per sq.ft (2024)
• E.V.P.Santhosh Nagar 1st Main Road: Rs 3,550 per sq.ft (2024)
• Evp Santhosh Nagar: Rs 3,550 per sq.ft (2024)
• Ev Periyar Street: Rs 3,550 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 35,50,000. The stamp duty at 7% would be Rs 2,48,500, and the registration fee at 2% would be Rs 71,000, totaling Rs 3,19,500. 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 Street?

The Sub Registrar Office that covers E.V.R.Periyar Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO here.

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

The guideline value is a crucial factor in property transactions as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with registration regulations.

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

Frequently asked questions

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

The current guideline value of E.V.R.Periyar Street is Rs 3,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2023 to Rs 3,550 per sq.ft in 2024, an increase of 11%. It was Rs 2,144 per sq.ft in 2017 and Rs 3,200 per sq.ft in 2012, showing a significant increase over the years.

What are the other streets with the same guideline value in Ramapuram?

Several other streets in Ramapuram have the same guideline value of Rs 3,550 per sq.ft, including Evr Street, Evr Periyar 1st Cross Street, and E.V.P.Santhosh Nagar 1 to 4 Street.

What is the stamp duty rate for properties in E.V.R.Periyar Street?

The stamp duty rate for properties in E.V.R.Periyar Street is 7% of the guideline value or the sale price, whichever is higher. This is applicable during the registration process.

Where can I find the Sub Registrar Office for E.V.R.Periyar Street?

The Sub Registrar Office for E.V.R.Periyar Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find more information about it online.