Guideline Value for E.V.P. PRABHU AVENUE EXTENSION

E.V.P. Prabhu Avenue Extension guideline value

The current guideline value of E.V.P. Prabhu Avenue Extension is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Kolathuvancheri village under the Chennai South Joint I SRO, classified as Residential Class I Type - I.

How the guideline value of E.V.P. Prabhu Avenue Extension has changed

The guideline value for E.V.P. Prabhu Avenue Extension has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision has set it at Rs 2,200 per sq.ft.

From 2017 to 2023, there was a significant increase of 49%, while the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. Notably, there are no figures available for the revisions in 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 guideline values ranging from Rs 660 to Rs 4,600 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, placing E.V.P. Prabhu Avenue Extension above this median.

• E.V.P. Prabhu Avenue 9th Street: Rs 1,870 per sq.ft (2024)
• E.V.P. Prabhu Nagar: Rs 1,320 per sq.ft (2024)
• E.V.P. Prabhu Avenue 8th 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 6th Street: Rs 2,200 per sq.ft (2024)
• E.V.P. Prabhu Avenue 5th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in E.V.P. Prabhu Avenue Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total 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, bringing the total cost for these fees 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 Extension?

The E.V.P. Prabhu Avenue Extension is covered by 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 plays a crucial role in property transactions in Kolathuvancheri. It is used to determine the stamp duty and registration fees that must be paid during the sale or purchase of a property. Buyers and sellers must ensure that the guideline value is accurately reflected in their transaction documents.

When registering a property, the guideline value is compared to the sale price, and the higher of the two figures is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of E.V.P. Prabhu Avenue Extension?

The current guideline value of E.V.P. Prabhu Avenue Extension 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 median guideline value in Kolathuvancheri?

The median guideline value in Kolathuvancheri is Rs 1,650 per sq.ft, with E.V.P. Prabhu Avenue Extension being above this median at Rs 2,200 per sq.ft.

What is the stamp duty rate for properties in E.V.P. Prabhu Avenue Extension?

The stamp duty rate for properties in E.V.P. Prabhu Avenue Extension is 7%, calculated on the higher of the guideline value or the sale price.

Which office handles property registrations in this area?

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