Guideline Value for E.V.P. PRABHU AVENUE

E.V.P. Prabhu Avenue guideline value

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

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

The guideline value for E.V.P. Prabhu Avenue has seen significant revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, marking a substantial rise of 300%. However, it dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The value then climbed to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2007 to 2024, the increase is a remarkable 340%. The register has no figures for the years 2002 and 2003 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 for these streets is Rs 1,650 per sq.ft, placing E.V.P. Prabhu Avenue's 2024 figure above that median.

• E.V.P. Prabhu Avenue 10th 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 1st Street: Rs 2,200 per sq.ft (2024)
• E.V.P. Nagar 4th Street: Rs 1,320 per sq.ft (2024)
• E.V.P. Prabhu Avenue 2nd Main Salai: Rs 2,200 per sq.ft (2024)
• E.V.P. Nagar 3rd Street: Rs 1,320 per sq.ft (2024)

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

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 costs together to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office covering E.V.P. Prabhu Avenue 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. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Kolathuvancheri. It serves as a benchmark for determining 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, it is important to be aware of the guideline value, as it can affect the overall costs associated with the transaction. Buyers and sellers should consider this value when negotiating prices to ensure compliance with local regulations.

Frequently asked questions

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

The current guideline value of E.V.P. Prabhu Avenue 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 significantly from Rs 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 340% over the years.

What is the median guideline value in Kolathuvancheri?

The median guideline value for streets in Kolathuvancheri is Rs 1,650 per sq.ft, with E.V.P. Prabhu Avenue's value being above this median.

What are the stamp duty and registration fees for E.V.P. Prabhu Avenue?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would amount to Rs 1,98,000.

Where can I find my Sub Registrar Office?

The Sub Registrar Office covering E.V.P. Prabhu Avenue is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find more information by visiting the relevant link.