Guideline Value for PRAGATHI ENCLAVE PHASE 1

Pragathi Enclave Phase 1 guideline value

The current guideline value of Pragathi Enclave Phase 1 is Rs 700 per sq.ft. This area is located in Kayirambedu village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - II.

How the guideline value of Pragathi Enclave Phase 1 has changed

The guideline value for Pragathi Enclave Phase 1 has seen various revisions over the years. The 2007 revision set the value at Rs 450 per sq.ft, which increased to Rs 700 per sq.ft in 2012. However, this figure remained unchanged until the 2017 revision, which raised it to Rs 469 per sq.ft. The value then jumped significantly to Rs 700 per sq.ft in 2023, and it has remained the same in the latest 2024 revision, indicating no change from the previous year.

Overall, from the 2007 revision to the 2024 revision, there has been a 56% increase in the guideline value. Notably, the revisions for the years 2002 and 2003 do not have any figures recorded for this street.

Guideline values in Kayirambedu

In Kayirambedu, there are 120 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 400 to Rs 3,550 per sq.ft. The median value for these streets is Rs 700 per sq.ft, which matches the current guideline value of Pragathi Enclave Phase 1.

• Pragathi Enclave Phase 2: Rs 700 per sq.ft (2024)
• P R Avenue: Rs 1,500 per sq.ft (2024)
• Pugazh Avenue: Rs 700 per sq.ft (2024)
• Purva Soukhyam Phase-C: Rs 1,600 per sq.ft (2024)
• Purva Soukhyam Phase-M: Rs 1,600 per sq.ft (2024)
• Ragavendra Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Pragathi Enclave Phase 1

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pragathi Enclave Phase 1?

The Pragathi Enclave Phase 1 falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property in Kayirambedu. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a standard value, which helps in maintaining transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Pragathi Enclave Phase 1?

The current guideline value of Pragathi Enclave Phase 1 is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then to Rs 469 per sq.ft in 2017, and finally to Rs 700 per sq.ft in 2023 and 2024.

What is the registration office for Pragathi Enclave Phase 1?

The registration office for Pragathi Enclave Phase 1 is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

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

The stamp duty rate for properties in Pragathi Enclave Phase 1 is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and market conditions in the area.