Guideline Value

Corporate

Guideline Value for PRAKASAM NAGAR

₹750/sq.ft.

The guideline value for Prakasam Nagar in Thiruninravur-a village (Avadi SRO, Chennai zone) is Rs 750 per sq.ft, effective 1 July 2024. It was Rs 700 per sq.ft from 1 April 2023, a 7% change. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Thiruninravur-a

Village

Avadi

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹750 /sq.ft.
From 1-4-2023 ₹700 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹469 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District
044-26558484
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]

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Prakasam Nagar guideline value

The current guideline value of Prakasam Nagar in Thiruninravur-A village, under the Avadi SRO, is Rs 750 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - III.

How the guideline value of Prakasam Nagar has changed

Over the years, the guideline value of Prakasam Nagar has seen several revisions. The 2017 revision set the value at Rs 469 per sq.ft, which increased to Rs 700 per sq.ft in the 2023 revision. The most recent revision in 2024 raised it to Rs 750 per sq.ft, marking a 7% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 60%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was significant at 49%, reflecting a substantial change in the guideline value over these years.

Guideline values in Thiruninravur-A

In Thiruninravur-A, there are 382 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,750 per sq.ft. The median value for these streets is Rs 750 per sq.ft, which is equal to the current guideline value of Prakasam Nagar.

Stamp duty and registration fee for property in Prakasam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value would be Rs 7,50,000. The stamp duty at 7% would amount to Rs 52,500, and the registration fee at 2% would be Rs 15,000, bringing the total cost for these fees to Rs 67,500. Duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Prakasam Nagar?

The Prakasam Nagar area falls under the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Thiruninravur-A

The guideline value is a critical factor when buying or selling property in Thiruninravur-A, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are payable during the transaction.

When a buyer purchases a property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. It is essential for both buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Prakasam Nagar?

The current guideline value of Prakasam Nagar is Rs 750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 60% to the current rate of Rs 750 per sq.ft. The 2023 revision saw an increase of 49% from the 2017 figure.

What are the stamp duty and registration fees for property?

For a property valued at Rs 7,50,000, the stamp duty would be Rs 52,500 and the registration fee would be Rs 15,000, totaling Rs 67,500. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Prakasam Nagar?

The Avadi Sub Registrar Office handles property registrations for Prakasam Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District.

Are there other streets with the same guideline value in Thiruninravur-A?

Yes, there are several other streets in Thiruninravur-A with the same guideline value of Rs 750 per sq.ft, including Priya Nagar, Ponniyamman Nagar, Police Quarters St, Ragavendra Nagar, and Ragavendra Nagar Extn.