Guideline Value for Ekambara Kumaragurusamy Street

Ekambara Kumaragurusamy Street guideline value

The current guideline value of Ekambara Kumaragurusamy Street is Rs 13,000 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet SRO, classified as Residential Class I Type - I.

How the guideline value of Ekambara Kumaragurusamy Street has changed

The guideline value for Ekambara Kumaragurusamy Street has undergone several revisions over the years. In 2007, the value was set at Rs 1,380 per sq.ft. This figure saw a significant increase to Rs 12,000 per sq.ft in 2012, marking a rise of 770%. However, between 2012 and 2017, the value decreased to Rs 8,040 per sq.ft, a drop of 33%. The 2023 revision raised it to Rs 12,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 13,000 per sq.ft, reflecting an 8% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, there has been a remarkable increase of 842% in the guideline value for this street. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft, with a median value of Rs 4,800 per sq.ft. The guideline value of Ekambara Kumaragurusamy Street is notably above this median.

• Elephant Gate pada salai: Rs 4,800 per sq.ft (2024)
• Elephant Gate Road Slum Clearnace: Rs 2,700 per sq.ft (2024)
• Ellavaram Veerasamy Street: Rs 9,900 per sq.ft (2024)
• E.V.K.Sampath Road (or) Rundalls Road: Rs 14,300 per sq.ft (2024)
• E.V.K.Sampth lane: Rs 14,300 per sq.ft (2024)
• Dr.Ansari KanagarajaThottam: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ekambara Kumaragurusamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 13,000 per sq.ft, the total guideline value amounts to Rs 1,30,00,000. The stamp duty at 7% would be Rs 9,10,000, and the registration fee at 2% would be Rs 2,60,000, bringing the total to Rs 11,70,000. It's 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 details.

Which Sub Registrar Office covers Ekambara Kumaragurusamy Street?

The Sub Registrar Office that covers Ekambara Kumaragurusamy Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vepery. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When a property transaction occurs, the guideline value helps in calculating the applicable stamp duty, which is charged on the higher of the guideline value or the sale price. This ensures transparency and standardization in property transactions within the area.

Frequently asked questions

What is the current guideline value of Ekambara Kumaragurusamy Street?

The current guideline value of Ekambara Kumaragurusamy Street is Rs 13,000 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 1,380 per sq.ft in 2007 to Rs 13,000 per sq.ft in 2024, reflecting an overall increase of 842%.

What is the land classification of Ekambara Kumaragurusamy Street?

Ekambara Kumaragurusamy Street is classified as Residential Class I Type - I under the Periamet SRO.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 1,30,00,000, the stamp duty would be Rs 9,10,000, and the registration fee would be Rs 2,60,000, totaling Rs 11,70,000.

Which office handles registrations for Ekambara Kumaragurusamy Street?

The Periamet Sub Registrar Office at 1103, Poonamallee High Road, Chennai-600 003, handles registrations for Ekambara Kumaragurusamy Street.