Guideline Value for EMI STREET

Emi Street guideline value

The current guideline value of Emi Street in Purasaivakkam village is Rs 4,900 per sq.ft, effective from 1 July 2024. This street falls under the Purasaivakkam Sub Registrar Office (SRO) and is classified as Residential Class III Type - II.

How the guideline value of Emi Street has changed

The guideline value for Emi Street has undergone several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in 2012, marking a 150% rise. However, in 2017, the value dropped to Rs 3,015 per sq.ft, representing a decrease of 33%. The value then rose again to Rs 4,500 per sq.ft in 2023, and most recently, it has increased to Rs 4,900 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 172%. It is important to note that the register has no figures for Emi Street for the years 2002 and 2003.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 18,100 per sq.ft as of 2024. The median guideline value in this area is Rs 5,500 per sq.ft, indicating that Emi Street's current value of Rs 4,900 per sq.ft is below the median.

• Erron Street: Rs 5,500 per sq.ft (2024)
• E.S.I. Hospital Staff Quarters: Rs 2,200 per sq.ft (2024)
• Ethiraj Garden Lane: Rs 4,900 per sq.ft (2024)
• Ethiraj Garden Street: Rs 4,900 per sq.ft (2024)
• E.V.K Sampath Street (A) Rundalls Road Part: Rs 14,300 per sq.ft (2024)
• Edward Park Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Emi Street

For a 1,000 sq.ft plot on Emi Street at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Emi Street?

The Emi Street falls under the jurisdiction of 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 Purasaivakkam

The guideline value is a crucial factor in property transactions in Purasaivakkam, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration office will use the higher of the guideline value or the agreed sale price to calculate applicable duties and fees.

When a property is sold, the guideline value ensures transparency and standardization in property transactions. It helps in assessing the value of the property for taxation purposes and provides a basis for calculating stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Emi Street?

The current guideline value of Emi Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 172% over the years.

What is the median guideline value in Purasaivakkam?

The median guideline value in Purasaivakkam is Rs 5,500 per sq.ft, which is higher than the current value of Emi Street.

What are the stamp duty and registration fees for a property in Emi Street?

The stamp duty for a property valued at Rs 49,00,000 would be Rs 3,43,000, while the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Where is the Sub Registrar Office for Emi Street located?

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