Guideline Value for E.V.P. PRABHU AVENUE 2ND MAIN SALAI

E.V.P. Prabhu Avenue 2nd Main Salai guideline value

The current guideline value of E.V.P. Prabhu Avenue 2nd Main Salai is Rs 2,200 per sq.ft, effective from 1 July 2024. This property 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 2nd Main Salai has changed

The guideline value for E.V.P. Prabhu Avenue 2nd Main Salai has seen several revisions over the years. In 2012, the value was Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft from the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the value decreased by 33%, but then increased by 49% from 2017 to 2023. The latest revision from 2023 to 2024 shows a 10% increase. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase in the guideline value.

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, with a median value of Rs 1,650 per sq.ft. The guideline value for E.V.P. Prabhu Avenue 2nd Main Salai is above this median.

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

Stamp duty and registration fee for property in E.V.P. Prabhu Avenue 2nd 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 be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers E.V.P. Prabhu Avenue 2nd Main Salai?

The E.V.P. Prabhu Avenue 2nd Main Salai 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 more information.

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

The guideline value is a crucial factor during property registration in Kolathuvancheri. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. This value ensures that the transaction is recorded at a fair price as per the regulations set by the government.

When a property is sold, the buyer and seller must agree on a sale price, which cannot be lower than the guideline value. This helps in maintaining transparency and accountability in property transactions, ensuring that all parties are aware of the financial obligations involved.

Frequently asked questions

What is the current guideline value for E.V.P. Prabhu Avenue 2nd Main Salai?

The current guideline value for E.V.P. Prabhu Avenue 2nd 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 increased to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft in 2024.

What are the other streets in Kolathuvancheri with similar guideline values?

Other streets in Kolathuvancheri with a guideline value of Rs 2,200 per sq.ft include E.V.P. Prabhu Avenue 1st Street, E.V.P. Prabhu Avenue 2nd Street, E.V.P. Prabhu Avenue 1st Main Salai, E.V.P. Prabhu Avenue 3rd Main Road, E.V.P. Prabhu Avenue 10th Street, and E.V.P. Prabhu Avenue 3rd Street.

What is the registration fee for properties in this area?

The registration fee for properties in E.V.P. Prabhu Avenue 2nd Main Salai is calculated based on the guideline value, which is currently Rs 2,200 per sq.ft. For a property valued at Rs 22,00,000, the registration fee would be 2% of this amount.

Where can I find the Sub Registrar Office for E.V.P. Prabhu Avenue 2nd Main Salai?

The Sub Registrar Office covering E.V.P. Prabhu Avenue 2nd 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.