Guideline Value for PRABALA NAGAR

Prabala Nagar guideline value

The current guideline value of Prabala Nagar, located in Enjambakkam village under the Neelankarai SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under Residential Class III Type - I land classification.

How the guideline value of Prabala Nagar has changed

The guideline value for Prabala Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current value of Prabala Nagar.

• Pothigai Street: Rs 1,700 per sq.ft (2024)
• Poornima Garden: Rs 3,300 per sq.ft (2024)
• Prarthana Avenue: Rs 1,675 per sq.ft (2024)
• Prarthana Salai Cross Street: Rs 1,675 per sq.ft (2024)
• Prarthana Salai Main Road: Rs 2,800 per sq.ft (2024)
• Priyadharshini Garden: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Prabala Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Prabala Nagar?

The Sub Registrar Office that covers Prabala Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Enjambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

During registration, the authorities will assess the property based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Prabala Nagar?

The current guideline value of Prabala Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Prabala Nagar?

Prabala Nagar falls under the Residential Class III Type - I land classification.

What are the stamp duty and registration fees for a property in Prabala Nagar?

The stamp duty is calculated at 7% on the guideline value, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total charges would be Rs 1,98,000.

Where is the Sub Registrar Office for Prabala Nagar located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.