Guideline Value for PRABHU RAJA NAGAR

Prabhu Raja Nagar guideline value

The current guideline value of Prabhu Raja Nagar is Rs 2,500 per sq.ft, as per the 2023 revision. This area is located in Medavakkam village and falls under the Chennai South Joint I SRO. There is no land classification specified for this street.

How the guideline value of Prabhu Raja Nagar has changed

The guideline value for Prabhu Raja Nagar has seen significant changes over the years. The 2017 revision set the value at Rs 1,675 per sq.ft. Following this, the 2023 revision increased the guideline value to Rs 2,500 per sq.ft, marking a change of +49% from the previous figure.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, 2012, and 2024 for this street. Thus, the only figures available for reference are from 2017 and 2023.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft, with the median being Rs 2,200 per sq.ft. Prabhu Raja Nagar's current guideline value of Rs 2,500 per sq.ft places it above the median value for the area.

• Poonga Street: Rs 1,870 per sq.ft (2024)
• Poonga 4th Cross Street: Rs 1,870 per sq.ft (2024)
• Poonga 3rd Cross Street: Rs 1,870 per sq.ft (2024)
• Poonga 2nd Cross Street: Rs 1,870 per sq.ft (2024)
• Poonga 1st Cross Street: Rs 1,870 per sq.ft (2024)
• Ponniamman Nagar 1st Cross Street: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Prabhu Raja Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,500 per sq.ft, the guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total to Rs 2,25,000. 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 Raja Nagar?

Prabhu Raja Nagar falls under 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 Medavakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Medavakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Prabhu Raja Nagar?

The current guideline value of Prabhu Raja Nagar is Rs 2,500 per sq.ft as per the 2023 revision.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,500 per sq.ft, which is a change of +49%.

Are there any guideline value figures for the year 2024?

There are no guideline value figures available for Prabhu Raja Nagar for the year 2024.

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

For a property valued at Rs 25,00,000, the stamp duty is Rs 1,75,000 and the registration fee is Rs 50,000, totaling Rs 2,25,000.

Which office handles the registration for Prabhu Raja Nagar?

The registration for Prabhu Raja Nagar is handled by 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.