Guideline Value for PRAGATHEESWARA NAGAR I ST STREET

Pragatheeswara Nagar I St Street guideline value

The current guideline value of Pragatheeswara Nagar I St Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Pragatheeswara Nagar I St Street has changed

Over the years, the guideline value of Pragatheeswara Nagar I St Street has undergone several revisions. The 2007 revision set the value at Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this value decreased to Rs 2,010 per sq.ft in 2017. The 2023 revision saw a rise to Rs 3,000 per sq.ft, and the most recent 2024 revision has increased it further to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 371%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft. The guideline value for Pragatheeswara Nagar I St Street is below this median.

• Pragatheeswara Nagar II Nd Street: Rs 3,300 per sq.ft (2024)
• Pragatheeswara Nagar III Rd Street: Rs 3,300 per sq.ft (2024)
• PRAGATHEESWARA NAGAR 4th CROSS STREET: Rs 3,300 per sq.ft (2024)
• Poonthamalee High Road: Rs 16,500 per sq.ft (2024)
• Pulavar Pugazhendhi Garden Vth Street: Rs 3,300 per sq.ft (2024)
• Pulavar Pugazhendhi Nagar III Rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pragatheeswara Nagar I St Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your specific fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pragatheeswara Nagar I St Street?

The Pragatheeswara Nagar I St Street falls under the jurisdiction of the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Arumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements.

When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid based on the established guideline value.

Frequently asked questions

What is the current guideline value of Pragatheeswara Nagar I St Street?

The current guideline value of Pragatheeswara Nagar I St Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking a total increase of 371% over this period.

What is the registration office for Pragatheeswara Nagar I St Street?

The registration office for Pragatheeswara Nagar I St Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is calculated at 2% of the same amount.

What is the median guideline value in Arumbakkam?

The median guideline value in Arumbakkam is Rs 6,000 per sq.ft, while Pragatheeswara Nagar I St Street's current guideline value is below this median at Rs 3,300 per sq.ft.