Guideline Value for PRAGATHEESWARA NAGAR III RD STREET

Pragatheeswara Nagar III Rd Street guideline value

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

How the guideline value of Pragatheeswara Nagar III Rd Street has changed

Over the years, the guideline value for Pragatheeswara Nagar III Rd Street has seen significant changes. In the 2007 revision, the value was Rs 700 per sq.ft, which increased dramatically to Rs 3,000 per sq.ft in 2012, marking a rise of 329%. However, this value decreased to Rs 2,010 per sq.ft in 2017, representing a decline of 33%. The 2023 revision set the value at Rs 3,000 per sq.ft, and it increased by 10% to reach the current value of Rs 3,300 per sq.ft in 2024.

There are no figures available for the revisions in 2002 and 2003 for this street. The overall change from 2007 to 2024 is an increase of 371% in the guideline value.

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. Pragatheeswara Nagar III Rd Street's current value is below this median.

• PRAGATHEESWARA NAGAR 4th CROSS STREET: Rs 3,300 per sq.ft (2024)
• Pragatheeswara Nagar II Nd Street: Rs 3,300 per sq.ft (2024)
• Pragatheeswara Nagar I St 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 III Rd 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, bringing the total charges 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Pragatheeswara Nagar III Rd Street?

The Pragatheeswara Nagar III Rd Street is covered by 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 critical factor when registering property in Arumbakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When a property is sold, the registration office uses the guideline value to assess the transaction's value for taxation purposes. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Pragatheeswara Nagar III Rd Street?

The current guideline value of Pragatheeswara Nagar III Rd 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 significantly from Rs 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 371% over this period.

What are the stamp duty rates for property in this area?

The stamp duty for property transactions in Pragatheeswara Nagar III Rd Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Which office handles the registration for properties in Pragatheeswara Nagar III Rd Street?

The Kodambakkam Sub Registrar Office handles the registration for properties in Pragatheeswara Nagar III Rd Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

Are there other streets with the same guideline value in Arumbakkam?

Yes, there are several other streets in Arumbakkam with the same guideline value of Rs 3,300 per sq.ft, including Pragatheeswara Nagar 4th Cross Street, Pragatheeswara Nagar II Nd Street, and Pulavar Pugazhendhi Garden Vth Street.