Guideline Value for EKANGIPURAM 1ST STREET

Ekangipuram 1st Street guideline value

The current guideline value of Ekangipuram 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, and it falls under the Residential Class III Type - II land classification.

How the guideline value of Ekangipuram 1st Street has changed

Since the 2003 revision, the guideline value for Ekangipuram 1st Street has seen significant changes. In 2003, the guideline value was Rs 369 per sq.ft, which increased to Rs 600 per sq.ft in 2007. The value then rose dramatically to Rs 2,500 per sq.ft in 2012, before dropping to Rs 1,675 per sq.ft in 2017. Following this, the value increased to Rs 2,500 per sq.ft in 2023 and reached Rs 2,700 per sq.ft in the 2024 revision. The register has no figure for this street in 2002.

Looking at the changes, the guideline value increased by 63% from 2003 to 2007 and then surged by 317% from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and finally, there was an increase of 8% from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 632%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the 2024 figure for Ekangipuram 1st Street.

• Ekangipuram 2nd Street: Rs 2,700 per sq.ft (2024)
• Ekangipuram 3rd Street: Rs 2,700 per sq.ft (2024)
• Ekangipuram 4th Street: Rs 2,700 per sq.ft (2024)
• Ekangipuram 5th Street: Rs 2,700 per sq.ft (2024)
• Ekangipuram 6th Street: Rs 2,700 per sq.ft (2024)
• Ekangipuram 7th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ekangipuram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the guideline value amounts 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, together totaling 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 use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ekangipuram 1st Street?

The Sub Registrar Office that covers Ekangipuram 1st Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process for property transactions in Perambur. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider the guideline value to ensure compliance with the regulations set by the Registration Department.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the transaction is recorded accurately and transparently, reflecting the true value of the property as per the guidelines established by the local authorities.

Frequently asked questions

What is the current guideline value of Ekangipuram 1st Street?

The current guideline value of Ekangipuram 1st 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 significantly over the years, increasing from Rs 369 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 632%.

What is the land classification for Ekangipuram 1st Street?

Ekangipuram 1st Street falls under the Residential Class III Type - II land classification.

Where is the Sub Registrar Office for Ekangipuram 1st Street located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Ekangipuram 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.