Guideline Value for PRAGATHEESWARA NAGAR II ND STREET

Pragatheeswara Nagar II Nd Street guideline value

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

How the guideline value of Pragatheeswara Nagar II Nd Street has changed

Over the years, the guideline value for Pragatheeswara Nagar II Nd Street has seen several revisions. The earliest recorded revision was in 2007, with a guideline value of Rs 700 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 329%. However, it then decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value rebounded to Rs 3,000 per sq.ft in 2023, and further increased to Rs 3,300 per sq.ft in 2024, reflecting a change of 10% from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has risen by 371%. It is important to note that 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 of Pragatheeswara Nagar II Nd Street is below this median.

• Pragatheeswara Nagar III Rd Street: Rs 3,300 per sq.ft (2024)
• Pragatheeswara Nagar I St 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 II Nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, calculated at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total to 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.

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

Which Sub Registrar Office covers Pragatheeswara Nagar II Nd Street?

The Sub Registrar Office covering Pragatheeswara Nagar II Nd Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Arumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential costs in the transaction process. Buyers should be aware of these values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Pragatheeswara Nagar II Nd Street?

The current guideline value of Pragatheeswara Nagar II Nd 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 changed from Rs 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 371% over the years.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office is responsible for this street?

The Kodambakkam Sub Registrar Office is responsible for Pragatheeswara Nagar II Nd Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the median guideline value in Arumbakkam?

The median guideline value in Arumbakkam is Rs 6,000 per sq.ft, while Pragatheeswara Nagar II Nd Street's guideline value is below this median.