Guideline Value for EKANGIPURAM 7TH STREET

Ekangipuram 7th Street guideline value

The current guideline value of Ekangipuram 7th 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 is classified as Residential Class III Type - II.

How the guideline value of Ekangipuram 7th Street has changed

Over the years, the guideline value of Ekangipuram 7th Street has experienced several revisions. The guideline value was Rs 369 per sq.ft in 2003, which increased to Rs 600 per sq.ft in 2007. Following this, the value saw a significant rise to Rs 2,500 per sq.ft in 2012, but then decreased to Rs 1,675 per sq.ft in 2017. The value then increased substantially to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,700 per sq.ft in 2024, marking an 8% increase from the previous year.

In summary, the changes between revisions show a +632% increase from 2003 to 2024. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Perambur

In Perambur, a total of 1,114 streets under the Purasaivakkam SRO have a guideline value for 2024 ranging from Rs 1,600 to Rs 7,100 per sq.ft, with the median being Rs 2,700 per sq.ft. The guideline value of Ekangipuram 7th Street is equal to this median.

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

Stamp duty and registration fee for property in Ekangipuram 7th 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, making the total cost for these fees Rs 2,43,000. It is important to note that the 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 details.

Which Sub Registrar Office covers Ekangipuram 7th Street?

The Sub Registrar Office that covers Ekangipuram 7th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buyers and sellers engage in property transactions, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures transparency and compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Ekangipuram 7th Street?

The current guideline value of Ekangipuram 7th 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 from Rs 369 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 632% over this period.

What is the land classification of Ekangipuram 7th Street?

Ekangipuram 7th Street is classified as Residential Class III Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Ekangipuram 7th Street?

The Sub Registrar Office for Ekangipuram 7th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Ekangipuram 7th Street?

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