Guideline Value for PRABHU NAGAR ANEXE

Prabhu Nagar Anexe guideline value

The current guideline value of Prabhu Nagar Anexe is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Prabhu Nagar Anexe has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 1,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,320 per sq.ft, marking a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has seen a 10% increase.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2017 for this street. The revisions indicate a gradual adjustment in the guideline value, reflecting changes in the real estate landscape.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Prabhu Nagar Anexe's 2024 figure below that median.

• Prabhu Nagar 3rd Street: Rs 1,110 per sq.ft (2024)
• Prabhu Nagar 2nd Street: Rs 1,110 per sq.ft (2024)
• Prabhu Nagar: Rs 1,320 per sq.ft (2024)
• Pudhuthangal Iyyapan Street: Rs 1,320 per sq.ft (2024)
• Pudhuthangal Muvendhar Street: Rs 1,320 per sq.ft (2024)
• Pugalendhi Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Prabhu Nagar Anexe

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total charges to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Prabhu Nagar Anexe?

The Sub Registrar Office that covers Prabhu Nagar Anexe is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the authorities.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Prabhu Nagar Anexe?

The current guideline value of Prabhu Nagar Anexe is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,320 per sq.ft in 2024, reflecting a 10% increase overall. There were no changes recorded for the years 2002, 2003, 2007, and 2017.

What is the stamp duty rate for properties in Prabhu Nagar Anexe?

The stamp duty rate for properties in Prabhu Nagar Anexe is 7%, calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Prabhu Nagar Anexe located?

The Sub Registrar Office for Prabhu Nagar Anexe is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

What are the guideline values of other streets in Pallikaranai?

Other streets in Pallikaranai have guideline values ranging from Rs 1,110 to Rs 1,320 per sq.ft. For example, Prabhu Nagar 3rd Street and Prabhu Nagar 2nd Street both have a guideline value of Rs 1,110 per sq.ft, while Prabhu Nagar, Pudhuthangal Iyyapan Street, Pudhuthangal Muvendhar Street, and Pugalendhi Street have a guideline value of Rs 1,320 per sq.ft.