Guideline Value for E.V.P. PRABHU AVENUE 2ND STREET

E.V.P. Prabhu Avenue 2nd Street guideline value

The current guideline value of E.V.P. Prabhu Avenue 2nd Street 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, classified as Residential Class I Type - I.

How the guideline value of E.V.P. Prabhu Avenue 2nd Street has changed

The guideline value for E.V.P. Prabhu Avenue 2nd Street has seen several revisions over the years. In 2012, the guideline 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 finally reached Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Between the revisions, the changes were notable. The increase from 2017 to 2023 was 49%, while the decrease from 2012 to 2017 was 33%. The register has no figures 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 is Rs 1,650 per sq.ft, placing E.V.P. Prabhu Avenue 2nd Street above this median.

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

Stamp duty and registration fee for property in E.V.P. Prabhu Avenue 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to 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, totaling Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

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

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

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

The guideline value is essential for property transactions in Kolathuvancheri as it determines the minimum price at which property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and reflects the value set by the government.

Frequently asked questions

What is the current guideline value of E.V.P. Prabhu Avenue 2nd Street?

The current guideline value of E.V.P. Prabhu Avenue 2nd Street 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 finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of E.V.P. Prabhu Avenue 2nd Street?

E.V.P. Prabhu Avenue 2nd Street is classified as Residential Class I Type - I.

What are the guideline values of other streets in Kolathuvancheri?

Other streets in Kolathuvancheri have a guideline value ranging from Rs 660 to Rs 4,600 per sq.ft, with E.V.P. Prabhu Avenue 2nd Street being above the median value of Rs 1,650 per sq.ft.

Where is the Sub Registrar Office for E.V.P. Prabhu Avenue 2nd Street located?

The Sub Registrar Office covering E.V.P. Prabhu Avenue 2nd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.