Guideline Value for PRAGATHI GARDEN

Pragathi Garden guideline value

The current guideline value of Pragathi Garden, located in Seevaadi village under the Madurandakam SRO, is Rs 150 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Pragathi Garden has changed

The guideline value for Pragathi Garden has seen several revisions over the years. In 2012, the guideline value was set at Rs 150 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 100 per sq.ft, marking a decline of 33%. However, in the 2023 revision, the guideline value returned to Rs 150 per sq.ft, and this value was maintained in the 2024 revision, resulting in no percentage change from 2023 to 2024.

From the 2012 revision to the 2024 revision, the overall change is 0%. The 2017 to 2023 period saw a significant increase of 50%, bringing the value back to its 2012 level. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

Guideline values in Seevaadi

In Seevaadi, there are 9 streets under the Madurandakam SRO that have a 2024 guideline value ranging from Rs 100 to Rs 200 per sq.ft. The median value for these streets is Rs 151 per sq.ft, indicating that Pragathi Garden's current guideline value is below this median.

• Royal City: Rs 200 per sq.ft (2024)
• Sai Nagar: Rs 100 per sq.ft (2024)
• Mkm City: Rs 151 per sq.ft (2024)
• Sundaram Garden: Rs 200 per sq.ft (2024)
• Varsha Garden: Rs 121 per sq.ft (2024)
• Family Park: Rs 151 per sq.ft (2024)

Stamp duty and registration fee for property in Pragathi Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty, charged at 7%, would amount to Rs 10,500, while the registration fee at 2% would be Rs 3,000. Therefore, the total cost for stamp duty and registration fees would be Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pragathi Garden?

The Pragathi Garden area is covered by the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Seevaadi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate the applicable fees. This ensures that the transaction is registered accurately and in accordance with the prevailing rates set by the Registration Department.

Frequently asked questions

What is the current guideline value of Pragathi Garden?

The current guideline value of Pragathi Garden is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 150 per sq.ft in 2023 and 2024. It was Rs 100 per sq.ft in 2017 and Rs 150 per sq.ft in 2012.

What is the land classification for Pragathi Garden?

The land classification for Pragathi Garden is Commercial Class I Type - I, indicating its suitability for commercial activities.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated for property in Pragathi Garden?

Stamp duty for property in Pragathi Garden is calculated at 7% of the guideline value. For example, for a 1,000 sq.ft plot valued at Rs 150 per sq.ft, the stamp duty would be Rs 10,500.