Guideline Value for Colony Prathana Salai

Colony Prathana Salai guideline value

The current guideline value of Colony Prathana Salai is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Kaduvancheri village, under the Sriperumpudur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Colony Prathana Salai has changed

The guideline value for Colony Prathana Salai has seen several revisions over the years. The earliest recorded figure is from 2012, set at Rs 200 per sq.ft. In 2017, the value decreased to Rs 134 per sq.ft, marking a 33% decline. However, from 2017 to 2023, the value increased by 49%, bringing it back to Rs 200 per sq.ft. The most recent revision in 2024 maintained the value at Rs 200 per sq.ft, indicating no change from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Thus, the guideline value has remained consistent at Rs 200 per sq.ft from 2012 to 2024 overall.

Guideline values in Kaduvancheri

In Kaduvancheri, there are 37 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,500 per sq.ft, with a median value of Rs 300 per sq.ft. Colony Prathana Salai's 2024 figure is below this median.

• Chemec Farm House: Rs 250 per sq.ft (2024)
• Chandryan Annadurai Avenue: Rs 400 per sq.ft (2024)
• D.R.R Nagar 1st Street: Rs 250 per sq.ft (2024)
• D.R.R.Nagar 2nd Street: Rs 250 per sq.ft (2024)
• D.R.R.Nagar 3rd Street: Rs 250 per sq.ft (2024)
• Bajanai Koil Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Colony Prathana Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Colony Prathana Salai?

The Colony Prathana Salai is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kaduvancheri. It is the benchmark used to determine the minimum value of the property for registration purposes, ensuring that the transaction is recorded at a value that reflects the market conditions.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Colony Prathana Salai?

The current guideline value of Colony Prathana Salai is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has been Rs 200 per sq.ft in 2012, 2023, and 2024, while it was Rs 134 per sq.ft in 2017. There were no figures available for the years 2002, 2003, and 2007.

What is the classification of land in Colony Prathana Salai?

Colony Prathana Salai is classified as Residential Class II Type - I, which indicates its designation for residential use.

What are the stamp duty and registration fees for property in Colony Prathana Salai?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000. This is calculated based on the guideline value.

Where can I find the Sub Registrar Office for Colony Prathana Salai?

The Sub Registrar Office covering Colony Prathana Salai is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.