Guideline Value for PRAKASAM ST

Prakasam St guideline value

The current guideline value of Prakasam St in Paruthipattu village, under the Avadi SRO, is Rs 950 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Prakasam St has changed

Over the years, the guideline value of Prakasam St has seen several revisions. The 2012 revision set the value at Rs 900 per sq.ft, which was then reduced to Rs 603 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 900 per sq.ft, and the most recent 2024 revision has raised it to Rs 950 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

In terms of percentage changes, there was a notable increase of 49% from 2017 to 2023, followed by a 6% increase from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Paruthipattu

In Paruthipattu, there are 486 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 801 to Rs 4,730 per sq.ft, with a median value of Rs 1,625 per sq.ft. Prakasam St's current guideline value of Rs 950 per sq.ft is below this median.

• Prasath St: Rs 950 per sq.ft (2024)
• Portin Home In M.R.Garden: Rs 950 per sq.ft (2024)
• Poovai Road 4th Cross Street: Rs 2,610 per sq.ft (2024)
• Poovai Road 3rd Cross Street: Rs 2,610 per sq.ft (2024)
• Poovai Road 2nd Cross Street: Rs 2,610 per sq.ft (2024)
• Poovai Road 1st Cross Street: Rs 2,610 per sq.ft (2024)

Stamp duty and registration fee for property in Prakasam St

For a 1,000 sq.ft plot at the current guideline value of Rs 950 per sq.ft, the total guideline value amounts to Rs 9,50,000. The stamp duty at 7% would be Rs 66,500, and the registration fee at 2% would be Rs 19,000, bringing the total fees together to Rs 85,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Prakasam St?

The Prakasam St falls under the jurisdiction of 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 information.

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

The guideline value is a crucial factor during property transactions in Paruthipattu. 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 fees based on this valuation.

When buying or selling property, the guideline value helps both parties understand the financial implications of the transaction. It is essential for buyers to be aware of this value to avoid overpaying for a property and for sellers to set realistic expectations regarding their property’s worth.

Frequently asked questions

What is the current guideline value of Prakasam St?

The current guideline value of Prakasam St is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then back to Rs 900 per sq.ft in 2023, and finally to Rs 950 per sq.ft in 2024.

What is the land classification for Prakasam St?

Prakasam St is classified as Residential Class II Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for property in Prakasam St?

For a property valued at Rs 9,50,000, the stamp duty would be Rs 66,500, and the registration fee would be Rs 19,000, totaling Rs 85,500.

Which office handles the registration for Prakasam St?

The Avadi Sub Registrar Office handles the registration for Prakasam St, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.