Guideline Value for PRAKASA MUDALI STREET

Prakasa Mudali Street guideline value

The current guideline value of Prakasa Mudali Street is Rs 8,300 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Class II Type - I.

How the guideline value of Prakasa Mudali Street has changed

The guideline value for Prakasa Mudali Street has seen several revisions over the years. In 2002, the value was Rs 1,982 per sq.ft, which increased to Rs 2,474 per sq.ft in 2003, marking a 25% rise. Following this, the value rose to Rs 3,200 per sq.ft in 2007, reflecting a 29% increase. The 2012 revision saw the value jump to Rs 7,500 per sq.ft, which was a significant 134% increase from the previous figure.

From 2012 to 2017, the value decreased to Rs 5,025 per sq.ft, a decline of 33%. The guideline value then increased to Rs 7,500 per sq.ft in 2023, followed by a rise to Rs 8,300 per sq.ft in 2024, which represents an 11% increase. Overall, from 2002 to 2024, the guideline value has increased by 319%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value is Rs 11,000 per sq.ft, placing Prakasa Mudali Street's 2024 figure below this median.

• Prakasam Road: Rs 13,200 per sq.ft (2024)
• Prakasam Ist Street: Rs 8,300 per sq.ft (2024)
• Prakasam Ist Lane: Rs 6,600 per sq.ft (2024)
• Porur Somasundaram Street: Rs 8,300 per sq.ft (2024)
• Prem Nagar Colony: Rs 6,600 per sq.ft (2024)
• Pudu Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Prakasa Mudali Street

For a 1,000 sq.ft plot at the current rate of Rs 8,300 per sq.ft, the guideline value amounts to Rs 83,00,000. The stamp duty at 7% would be Rs 5,81,000, and the registration fee at 2% would be Rs 1,66,000, totaling Rs 7,47,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Prakasa Mudali Street?

The Sub Registrar Office that covers Prakasa Mudali Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property registration in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling a property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is aligned with the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value of Prakasa Mudali Street?

The current guideline value of Prakasa Mudali Street is Rs 8,300 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 1,982 per sq.ft in 2002 to Rs 8,300 per sq.ft in 2024, reflecting an overall increase of 319% over the years.

What is the classification of Prakasa Mudali Street?

Prakasa Mudali Street is classified as Residential Class II Type - I under the guideline value register.

Where can I find the Thiyagaraya nagar Sub Registrar Office?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is the stamp duty calculated for properties in Tnagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 83,00,000 would incur a stamp duty of Rs 5,81,000 at 7%.