Guideline Value for E.V.P. NAGAR 1ST STREET

E.V.P. Nagar 1st Street guideline value

The current guideline value of E.V.P. Nagar 1st Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Kolathuvancheri village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - I.

How the guideline value of E.V.P. Nagar 1st Street has changed

The guideline value for E.V.P. Nagar 1st Street has undergone several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, it saw a decrease to Rs 804 per sq.ft in 2017. The value then rose to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,320 per sq.ft as per the 2024 revision.

From 2017 to 2023, the change was +49%, and from 2023 to 2024, it increased by +10%. The overall increase from the 2007 revision to the current 2024 figure is +164%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 4,600 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, making the guideline value of E.V.P. Nagar 1st Street below the median.

• E.V.P. Nagar 2nd Street: Rs 1,320 per sq.ft (2024)
• E.V.P. Nagar 3rd Street: Rs 1,320 per sq.ft (2024)
• E.V.P. Nagar 4th Street: Rs 1,320 per sq.ft (2024)
• E.V.P. Prabhu Avenue: Rs 2,200 per sq.ft (2024)
• E.V.P. Prabhu Avenue 10th Street: Rs 2,200 per sq.ft (2024)
• E.V.P. Prabhu Avenue 1st Main Salai: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in E.V.P. Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total cost for these fees Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers E.V.P. Nagar 1st Street?

The Sub Registrar Office that covers E.V.P. Nagar 1st Street is the Chennai South Joint I 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 for more details.

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

The guideline value is a critical factor when registering property transactions in Kolathuvancheri. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the overall costs involved in the transaction. Buyers should ensure that they are informed about these values to avoid any unexpected expenses during the registration process.

Frequently asked questions

What is the current guideline value of E.V.P. Nagar 1st Street?

The current guideline value of E.V.P. Nagar 1st Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of +164% over the years.

What is the median guideline value for streets in Kolathuvancheri?

The median guideline value for the 146 streets in Kolathuvancheri is Rs 1,650 per sq.ft, with E.V.P. Nagar 1st Street's value being below this median.

What are the stamp duty rates for property in E.V.P. Nagar 1st Street?

The stamp duty for property in E.V.P. Nagar 1st Street is charged at 7% of the guideline value or sale price, whichever is higher.

Which office handles registrations for E.V.P. Nagar 1st Street?

The Chennai South Joint I Sub Registrar Office handles registrations for E.V.P. Nagar 1st Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.