Guideline Value for North PRAGARAM Street

North PRAGARAM Street guideline value

The current guideline value of North PRAGARAM Street in Satthankadu village is Rs 3,400 per sq.ft, effective from 1 July 2024. This street falls under the Thiruvottiyur SRO and is classified as Residential Special Type - III.

How the guideline value of North PRAGARAM Street has changed

Over the years, the guideline value of North PRAGARAM Street has experienced several revisions. The 2007 revision set the value at Rs 800 per sq.ft, which increased significantly to Rs 3,100 per sq.ft in 2012, marking a substantial rise of 288%. However, from 2012 to 2017, the value decreased to Rs 2,077 per sq.ft, reflecting a drop of 33%. The most notable increase occurred from 2017 to 2023, where the value rose to Rs 3,100 per sq.ft, a change of 49%. The latest revision in 2024 has set the value at Rs 3,400 per sq.ft, representing a 10% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 325%.

Guideline values in Satthankadu

In Satthankadu, there are 71 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value is Rs 3,400 per sq.ft, which is equal to the current guideline value of North PRAGARAM Street. The following are other streets in Satthankadu:

• North Pattai: Rs 3,400 per sq.ft (2024)
• North Mada Street: Rs 3,400 per sq.ft (2024)
• North Lane: Rs 3,400 per sq.ft (2024)
• New Street: Rs 3,900 per sq.ft (2024)
• Ottravadai Street: Rs 3,400 per sq.ft (2024)
• Padmanabhan colony: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in North PRAGARAM Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value amounts to Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, bringing the total cost for these fees to Rs 3,06,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers North PRAGARAM Street?

The North PRAGARAM Street falls under the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for additional information.

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

The guideline value plays a crucial role during property transactions in Satthankadu. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly influences the costs involved in the registration process. Ensuring that the property is registered at the correct guideline value helps avoid any legal complications in the future.

Frequently asked questions

What is the current guideline value of North PRAGARAM Street?

The current guideline value of North PRAGARAM Street is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 800 per sq.ft in 2007 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 325% over this period.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,06,000.

Which office handles property registrations for North PRAGARAM Street?

The Thiruvottiyur Sub Registrar Office handles property registrations for North PRAGARAM Street, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification of North PRAGARAM Street?

North PRAGARAM Street is classified as Residential Special Type - III, indicating its designated use for residential purposes.