Guideline Value for MOUNT BATTEN PRABHU STREET

Mount Batten Prabhu Street guideline value

The current guideline value of Mount Batten Prabhu Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Class I Type - II.

How the guideline value of Mount Batten Prabhu Street has changed

The guideline value for Mount Batten Prabhu Street has seen several revisions over the years. In 2007, the value was set at Rs 500 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, followed by a decrease to Rs 2,345 per sq.ft in 2017. The value then rose sharply to Rs 3,500 per sq.ft in 2023, and finally reached the current figure of Rs 3,900 per sq.ft in 2024, marking an increase of 11% from the previous year.

From 2007 to 2024, the overall increase in the guideline value is 680%. The revisions for 2003 and 2002 do not have any figures recorded for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam village, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, which means that the 2024 guideline value of Mount Batten Prabhu Street is above this median.

• Mount Batten Road 1,2,3: Rs 3,900 per sq.ft (2024)
• M.R.G.Nagar: Rs 2,800 per sq.ft (2024)
• M.R.G.Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• M.R.G.Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• M.R.G.Nagar Main Road: Rs 2,800 per sq.ft (2024)
• M.R.Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Mount Batten Prabhu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total cost for these fees Rs 3,51,000. It is important to note that the 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 Mount Batten Prabhu Street?

The Sub Registrar Office that covers Mount Batten Prabhu Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Okkiyamthuraipakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that all transactions adhere to the regulations set forth by the Registration Department. This process helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Mount Batten Prabhu Street?

The current guideline value of Mount Batten Prabhu Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, showing an overall increase of 680% across the years.

What is the land classification for Mount Batten Prabhu Street?

Mount Batten Prabhu Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this street?

The Neelankarai Sub Registrar Office, which covers Mount Batten Prabhu Street, is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,73,000.