Guideline Value for PRAKASAM IST STREET

Prakasam Ist Street guideline value

The current guideline value of Prakasam Ist Street is Rs 8,300 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village and falls under the Thiyagaraya nagar SRO with a land classification of Residential Class II Type - I.

How the guideline value of Prakasam Ist Street has changed

The guideline value for Prakasam Ist Street has seen several revisions over the years. The 2012 revision set the value at Rs 7,500 per sq.ft. However, in the 2017 revision, it dropped to Rs 5,025 per sq.ft, marking a decrease of 33%. The subsequent 2023 revision increased the value to Rs 7,500 per sq.ft, and the latest 2024 revision raised it further to Rs 8,300 per sq.ft, reflecting an increase of 11% from the previous year.

In summary, from the 2017 revision to 2023, there was a significant increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 11%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Tnagar

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

• Prakasam Ist Lane: Rs 6,600 per sq.ft (2024)
• Prakasam Road: Rs 13,200 per sq.ft (2024)
• Prakasa Mudali Street: Rs 8,300 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 Prakasam Ist Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,300 per sq.ft, the total 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. Together, these fees total 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Prakasam Ist Street?

The Sub Registrar Office that covers Prakasam Ist Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Tnagar. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling a property, the guideline value helps in establishing a fair price for the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to make informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Prakasam Ist Street?

The current guideline value of Prakasam Ist 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 from Rs 7,500 per sq.ft in 2012 to Rs 5,025 per sq.ft in 2017, then back to Rs 7,500 per sq.ft in 2023, and finally to Rs 8,300 per sq.ft in 2024.

What is the land classification for Prakasam Ist Street?

Prakasam Ist Street is classified as Residential Class II Type - I according to the guideline value register.

Where can I find the registration office for Prakasam Ist Street?

The registration office for Prakasam Ist Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How do stamp duty and registration fees work in Tnagar?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. It is important for buyers and sellers to be aware of these fees to ensure compliance during the registration process.