Guideline Value for PRAJO PARK

Prajo Park guideline value

The current guideline value of Prajo Park is Rs 226 per sq.ft, effective from 1 July 2024. This area is located in Kizhnallathur & Melnallathur village under the Manavalanagar SRO, classified as Residential Class II Type - I.

How the guideline value of Prajo Park has changed

In the 2012 revision, the guideline value was Rs 225 per sq.ft. It then decreased to Rs 151 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 226 per sq.ft. The 2024 revision also maintained this value at Rs 226 per sq.ft, showing no change from the previous year.

The register does not contain figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 226 per sq.ft.

Guideline values in Kizhnallathur & Melnallathur

In Kizhnallathur & Melnallathur, there are 67 streets under the Manavalanagar SRO carrying a 2024 guideline value ranging from Rs 175 to Rs 1,201 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value of Prajo Park is below this median.

• P.P.NAGAR (S.No.191/1,5A): Rs 350 per sq.ft (2024)
• Parvathy Nagar: Rs 300 per sq.ft (2024)
• Pallavan Thirnagar Extension 2: Rs 300 per sq.ft (2024)
• Pallavan Thirnagar: Rs 300 per sq.ft (2024)
• Rp Nagar: Rs 250 per sq.ft (2024)
• Sai Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Prajo Park

For a 1,000 sq.ft plot at the current rate of Rs 226 per sq.ft, the guideline value amounts to Rs 2,26,000. The stamp duty at 7% would be Rs 15,820, and the registration fee at 2% would be Rs 4,520, totaling Rs 20,340. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Prajo Park?

The Sub Registrar Office that covers Prajo Park is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kizhnallathur & Melnallathur

The guideline value plays a crucial role during property transactions in Kizhnallathur & Melnallathur. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for property registration.

When a buyer or seller engages in a property transaction, they must consider the guideline value to ensure compliance with local regulations. The registration office utilizes this value to assess the applicable fees, ensuring that all transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Prajo Park?

The current guideline value of Prajo Park is Rs 226 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 225 per sq.ft in 2012 to Rs 151 per sq.ft in 2017, then increased to Rs 226 per sq.ft in 2023 and remained the same in 2024.

What is the registration office for Prajo Park?

The registration office for Prajo Park is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is stamp duty calculated for properties in Prajo Park?

Stamp duty for properties in Prajo Park is calculated based on the guideline value or the sale price, whichever is higher. For example, a guideline value of Rs 2,26,000 would incur a stamp duty of Rs 15,820 at 7%.

What are the other streets in Kizhnallathur & Melnallathur?

Other streets in Kizhnallathur & Melnallathur include P.P.NAGAR, Parvathy Nagar, Pallavan Thirnagar Extension 2, Pallavan Thirnagar, Rp Nagar, and Sai Nagar, with varying guideline values.