Guideline Value for E.V.P. PRABHU AVENUE 6TH STREET

E.V.P. Prabhu Avenue 6th Street guideline value

The current guideline value of E.V.P. Prabhu Avenue 6th 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 6th Street has changed

In the 2012 revision, the guideline value for E.V.P. Prabhu Avenue 6th Street was Rs 2,000 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,340 per sq.ft, marking a decline of 33%. The subsequent revisions saw significant changes, with the value increasing to Rs 2,000 per sq.ft in 2023, and then rising to Rs 2,200 per sq.ft in 2024, representing a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, bringing it back to the 2012 level of Rs 2,000 per sq.ft. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value for this street. 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 that have 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 6th Street is above this median.

• E.V.P. Prabhu Avenue 5th 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 4th Street: Rs 2,200 per sq.ft (2024)
• E.V.P. Prabhu Avenue 8th 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 9th Street: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in E.V.P. Prabhu Avenue 6th 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers E.V.P. Prabhu Avenue 6th Street?

The Sub Registrar Office that covers E.V.P. Prabhu Avenue 6th 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 information.

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

The guideline value is a crucial factor when registering property transactions in Kolathuvancheri. It determines 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 serves as a benchmark for assessing the transaction price. Buyers and sellers should be aware that the duty is charged based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of E.V.P. Prabhu Avenue 6th Street?

The current guideline value of E.V.P. Prabhu Avenue 6th 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 seen several changes, from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back 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 6th Street?

The land classification for E.V.P. Prabhu Avenue 6th Street is Residential Class I Type - I.

What are the stamp duty rates applicable in Kolathuvancheri?

The stamp duty rate applicable in Kolathuvancheri is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles registrations for E.V.P. Prabhu Avenue 6th Street?

The Chennai South Joint I Sub Registrar Office handles registrations for E.V.P. Prabhu Avenue 6th Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.