Guideline Value for E.V.P. Rathi Avenue

E.V.P. Rathi Avenue guideline value

The current guideline value of E.V.P. Rathi Avenue is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Mogalivakkam village under the Kunrathur SRO, classified as Residential Special Type - III.

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

The guideline value for E.V.P. Rathi Avenue has undergone several revisions over the years. The earliest recorded figure is from 2012, when it was Rs 2,300 per sq.ft. In 2017, this value decreased to Rs 1,541 per sq.ft. However, the value saw a significant increase in 2023, rising to Rs 2,300 per sq.ft, and further increased to Rs 2,530 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mogalivakkam

Mogalivakkam has 98 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 2,970 per sq.ft, placing E.V.P. Rathi Avenue below that median.

• Eswaran Koil Street: Rs 2,530 per sq.ft (2024)
• Dhanam Nagar: Rs 2,860 per sq.ft (2024)
• Gowri Nagar: Rs 2,970 per sq.ft (2024)
• Gowri Nagar Extension: Rs 2,530 per sq.ft (2024)
• Guruswamy Nagar: Rs 3,520 per sq.ft (2024)
• Guruswamy Nagar Extension: Rs 3,520 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total to Rs 2,27,700. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers E.V.P. Rathi Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Mogalivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the applicable taxes, ensuring that the government receives the correct revenue from property transactions. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of E.V.P. Rathi Avenue is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then back to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,530 per sq.ft in 2024.

What is the classification of E.V.P. Rathi Avenue?

E.V.P. Rathi Avenue is classified as Residential Special Type - III under the Kunrathur SRO.

What is the registration office for E.V.P. Rathi Avenue?

The registration office for E.V.P. Rathi Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Mogalivakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, the stamp duty for a property valued at Rs 25,30,000 would be calculated at 7% of that amount.