Guideline Value for E.V.P. PRABHU AVENUE 1ST MAIN SALAI

E.V.P. Prabhu Avenue 1st Main Salai guideline value

The current guideline value for E.V.P. Prabhu Avenue 1st Main Salai is Rs 2,200 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 I Type - I.

How the guideline value of E.V.P. Prabhu Avenue 1st Main Salai has changed

The guideline value of E.V.P. Prabhu Avenue 1st Main Salai has seen several revisions over the years. In 2012, the value was Rs 2,000 per sq.ft. This figure decreased to Rs 1,340 per sq.ft in 2017. However, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then rose again to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The increase from 2017 to 2023 was notable at 49%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 660 to Rs 4,600 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, making the guideline value of E.V.P. Prabhu Avenue 1st Main Salai above this median.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is 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 detailed calculations.

Which Sub Registrar Office covers E.V.P. Prabhu Avenue 1st Main Salai?

The Sub Registrar Office that covers E.V.P. Prabhu Avenue 1st Main Salai 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 Kolathuvancheri

When buying or selling property in Kolathuvancheri, the guideline value is a crucial factor in determining the registration fees and stamp duty. The guideline value serves as a benchmark for the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from property transactions.

Buyers should be aware that the guideline value may differ from the actual sale price. However, the duty is charged based on the higher of the two values, which can impact the total cost involved in the transaction.

Frequently asked questions

What is the current guideline value for E.V.P. Prabhu Avenue 1st Main Salai?

The current guideline value for E.V.P. Prabhu Avenue 1st Main Salai is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for E.V.P. Prabhu Avenue 1st Main Salai?

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

Which Sub Registrar Office covers this area?

The Chennai South Joint I Sub Registrar Office covers E.V.P. Prabhu Avenue 1st Main Salai, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Kolathuvancheri?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.