Guideline Value for E.V.P. PARK AVENUE 1ST MAIN ROAD

E.V.P. Park Avenue 1st Main Road guideline value

The current guideline value for E.V.P. Park Avenue 1st Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Iyyappanthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of E.V.P. Park Avenue 1st Main Road has changed

The guideline value for E.V.P. Park Avenue 1st Main Road has seen several revisions over the years. In the 2012 revision, the value was Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in the 2023 revision, and currently stands at Rs 2,750 per sq.ft from the 2024 revision. The changes between these revisions include a 10% increase from 2023 to 2024, a 49% increase from 2017 to 2023, and a 33% decrease from 2012 to 2017. Overall, from 2012 to 2024, there has been a 10% increase.

The register has no figures for the years 2002, 2003, and 2007 for this street. The 2024 guideline value of Rs 2,750 per sq.ft is a notable increase compared to the previous figures, reflecting the changes in the area over time.

Guideline values in Iyyappanthangal

Iyyappanthangal has 134 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, making E.V.P. Park Avenue 1st Main Road's 2024 figure above that median.

• E.V.P. Park Avenue: Rs 2,750 per sq.ft (2024)
• E.V.P. Park Avenue 2nd Main Road: Rs 2,750 per sq.ft (2024)
• Gandhi Nagar: Rs 1,650 per sq.ft (2024)
• Durgai Amman Koil Street: Rs 1,650 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 1,650 per sq.ft (2024)
• Dhanalskhmi Nagar Phase II: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in E.V.P. Park Avenue 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, together totaling Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers E.V.P. Park Avenue 1st Main Road?

The Sub Registrar Office that covers E.V.P. Park Avenue 1st Main Road 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 information.

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

The guideline value is a critical factor in property transactions in Iyyappanthangal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. Buyers should be aware that the stamp duty and registration fees are calculated based on this guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of E.V.P. Park Avenue 1st Main Road?

The current guideline value of E.V.P. Park Avenue 1st Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and is currently Rs 2,750 per sq.ft in 2024.

What is the land classification for E.V.P. Park Avenue 1st Main Road?

The land classification for E.V.P. Park Avenue 1st Main Road is Residential Class I Type - I.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles the registration for E.V.P. Park Avenue 1st Main Road?

The Chennai South Joint I Sub Registrar Office handles the registration for E.V.P. Park Avenue 1st Main Road, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.