Guideline Value for METRO PRASANA GARDEN HOUSE SITE SCHEME

Metro Prasana Garden House Site Scheme guideline value

The current guideline value for the Metro Prasana Garden House Site Scheme is Rs 700 per sq.ft. This property is located in Karunilam village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - I.

How the guideline value of Metro Prasana Garden House Site Scheme has changed

Looking at the revisions of the guideline value, the oldest figure available is from 2012, which was Rs 700 per sq.ft. This remained unchanged until the 2017 revision, where it dropped to Rs 469 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 700 per sq.ft. The 2024 revision has maintained this figure at Rs 700 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 700 per sq.ft.

Guideline values in Karunilam

In Karunilam, there are 35 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 1,200 per sq.ft, with a median value of Rs 501 per sq.ft. The guideline value for the Metro Prasana Garden House Site Scheme is above this median.

• Metro Prasana Garden Phase -II: Rs 500 per sq.ft (2024)
• Metro Elite Home: Rs 700 per sq.ft (2024)
• Mgm Nagar: Rs 700 per sq.ft (2024)
• Mahalakshmi Nagar Phase - V: Rs 700 per sq.ft (2024)
• Mahalakshmi Nagar Phase - IV: Rs 700 per sq.ft (2024)
• Mahalakshmi Nagar Phase - III: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Metro Prasana Garden House Site Scheme

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. 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 Metro Prasana Garden House Site Scheme?

The Metro Prasana Garden House Site Scheme falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Karunilam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that all transactions are fairly assessed based on the established guidelines.

Frequently asked questions

What is the current guideline value for Metro Prasana Garden House Site Scheme?

The current guideline value for the Metro Prasana Garden House Site Scheme is Rs 700 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft since 2012, with a decrease to Rs 469 per sq.ft in 2017, followed by an increase back to Rs 700 per sq.ft in 2023, which has been maintained in 2024.

What is the land classification for this property?

The land classification for the Metro Prasana Garden House Site Scheme is Residential Special Type - I.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is the stamp duty calculated for this property?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 49,000.