Guideline Value for E.V.P. NAGAR 4TH STREET

E.V.P. Nagar 4th Street guideline value

The current guideline value of E.V.P. Nagar 4th Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Kolathuvancheri village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of E.V.P. Nagar 4th Street has changed

The guideline value for E.V.P. Nagar 4th Street has seen several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 500 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a 140% rise. However, the value then decreased to Rs 804 per sq.ft in 2017, a drop of 33%. The subsequent revision in 2023 raised the value to Rs 1,200 per sq.ft, followed by the current value of Rs 1,320 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 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, with 2024 guideline values ranging from Rs 660 to Rs 4,600 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, indicating that E.V.P. Nagar 4th Street's current value is below the median.

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

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the 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, totaling Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers E.V.P. Nagar 4th Street?

The E.V.P. Nagar 4th Street falls under 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 further assistance.

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

The guideline value plays a crucial role when buying or selling property in Kolathuvancheri. It serves as a benchmark for determining the minimum price at which properties can be registered. This value is used to calculate the stamp duty and registration fees that buyers need to pay during the registration process.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers should be aware that the guideline value may differ from the actual sale price, and the duty is charged on whichever is higher.

Frequently asked questions

What is the current guideline value of E.V.P. Nagar 4th Street?

The current guideline value of E.V.P. Nagar 4th Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 500 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, marking a total increase of 164% over the years.

What is the median guideline value in Kolathuvancheri?

The median guideline value for streets in Kolathuvancheri is Rs 1,650 per sq.ft, which is higher than the current value of E.V.P. Nagar 4th Street.

What are the stamp duty and registration fees for properties in E.V.P. Nagar 4th Street?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles the registration for E.V.P. Nagar 4th Street?

The registration for E.V.P. Nagar 4th Street is handled by the Chennai South Joint I Sub Registrar Office, located in Fanepet Nandanam, Chennai.