Guideline Value for PRAGATHI ENCLAVE PHASE 2

Pragathi Enclave Phase 2 guideline value

The current guideline value of Pragathi Enclave Phase 2 is Rs 700 per sq.ft, effective from 1 July 2024. This locality is situated in Kayirambedu village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Pragathi Enclave Phase 2 has changed

Over the years, the guideline value for Pragathi Enclave Phase 2 has seen several revisions. In 2007, the value was Rs 450 per sq.ft, which increased to Rs 700 per sq.ft in 2012. However, between 2012 and 2017, there was a decrease to Rs 469 per sq.ft. The value then rose significantly to Rs 700 per sq.ft in 2023, maintaining the same figure in the 2024 revision, reflecting a 49% increase from 2017 to 2023 and no change from 2023 to 2024.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 56%.

Guideline values in Kayirambedu

In Kayirambedu village, there are 120 streets under the Chengleput Joint II SRO that carry 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 is equal to the current guideline value of Pragathi Enclave Phase 2.

• Pragathi Enclave Phase 1: 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 2

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, bringing the total cost to Rs 63,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Pragathi Enclave Phase 2?

The Sub Registrar Office covering Pragathi Enclave Phase 2 is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Kayirambedu. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area. The guideline value ensures that the transaction is recorded accurately and fairly in the official records.

When a buyer or seller engages in a property transaction, the guideline value is referenced to calculate the applicable fees. This process helps maintain transparency and accountability in real estate dealings within the region.

Frequently asked questions

What is the current guideline value of Pragathi Enclave Phase 2?

The current guideline value of Pragathi Enclave Phase 2 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 several times, starting from Rs 450 per sq.ft in 2007, rising to Rs 700 per sq.ft in 2012, dropping to Rs 469 per sq.ft in 2017, and then increasing to Rs 700 per sq.ft in both 2023 and 2024.

What is the land classification for Pragathi Enclave Phase 2?

The land classification for Pragathi Enclave Phase 2 is Residential Special Type - II, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for buying property here?

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for Pragathi Enclave Phase 2?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles property registrations for the area.