Guideline Value for E.V.P. PRABHU AVENUE 5TH STREET

E.V.P. Prabhu Avenue 5th Street guideline value

The current guideline value of E.V.P. Prabhu Avenue 5th 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. The land classification for this area is Residential Class I Type - I.

How the guideline value of E.V.P. Prabhu Avenue 5th Street has changed

The guideline value for E.V.P. Prabhu Avenue 5th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value rose significantly to Rs 2,000 per sq.ft in the 2023 revision, and most recently, it has increased to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In summary, the changes from 2012 to 2024 show an overall increase of 10%. The most notable change was from 2017 to 2023, where the value increased by 49%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

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. E.V.P. Prabhu Avenue 5th Street's 2024 guideline value is above this median.

• E.V.P. Prabhu Avenue 4th Street: Rs 2,200 per sq.ft (2024)
• E.V.P. Prabhu Avenue 6th 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 7th Street: 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 8th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in E.V.P. Prabhu Avenue 5th Street

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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers E.V.P. Prabhu Avenue 5th Street?

The Sub Registrar Office that covers E.V.P. Prabhu Avenue 5th Street 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Kolathuvancheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value of E.V.P. Prabhu Avenue 5th Street?

The current guideline value of E.V.P. Prabhu Avenue 5th 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 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 5th Street?

The land classification for E.V.P. Prabhu Avenue 5th Street is Residential Class I Type - I.

Where can I find the Sub Registrar Office for E.V.P. Prabhu Avenue 5th Street?

The Sub Registrar Office for E.V.P. Prabhu Avenue 5th Street is 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 higher of the guideline value or the sale price of the property. This ensures that the correct amount is charged during the registration process.