Guideline Value for E.V.P. PRABHU NAGAR

E.V.P. Prabhu Nagar guideline value

The current guideline value of E.V.P. Prabhu Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Kolathuvancheri village and falls under the Chennai South Joint I SRO, with a land classification of Residential Class IV Type - I.

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

The guideline value has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest 2024 revision raised it further to Rs 1,320 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 shows a modest increase of 10% in the guideline value.

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 Nagar's 2024 figure is below this median.

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

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers E.V.P. Prabhu Nagar 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 during the registration process of 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 reference point for both the buyer and seller. It is essential to understand that the final sale price may be higher than the guideline value, which will affect the applicable duties and fees.

Frequently asked questions

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

The current guideline value of E.V.P. Prabhu Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the stamp duty for property in E.V.P. Prabhu Nagar?

The stamp duty for property in E.V.P. Prabhu Nagar is 7% of the guideline value or the sale price, whichever is higher.

Which office handles registrations for E.V.P. Prabhu Nagar?

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

What are the guideline values of other streets in Kolathuvancheri?

Other streets in Kolathuvancheri have varying guideline values, with E.V.P. Prabhu Avenue Extension at Rs 2,200 per sq.ft, E.V.P. Prabhu Avenue 9th Street at Rs 1,870 per sq.ft, and several others at Rs 2,200 per sq.ft.