Guideline Value for PRAKASH AVENUE

Prakash Avenue guideline value

The current guideline value of Prakash Avenue is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Thachoor_2 village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Prakash Avenue has changed

The guideline value for Prakash Avenue has undergone several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 300 per sq.ft, which was a change from the previous figure. The most recent revision in 2024 increased the value to Rs 400 per sq.ft, marking a change of +33% from the 2023 figure.

In summary, the guideline value for Prakash Avenue has seen a significant increase from Rs 300 per sq.ft in 2023 to Rs 400 per sq.ft in 2024. This reflects the latest adjustments made by the Registration Department's guideline value register.

Guideline values in Thachoor_2

In Thachoor_2, there are 40 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 202 to Rs 1,800 per sq.ft. The median guideline value in this area is Rs 600 per sq.ft, indicating that Prakash Avenue's 2024 figure of Rs 400 per sq.ft is below that median.

• Sakthi Murugan Nagar: Rs 800 per sq.ft (2024)
• M.V.M. Nagar: Rs 1,195 per sq.ft (2024)
• Singapur Estate Phase I,II&iii: Rs 800 per sq.ft (2024)
• Sowbakya Nagar: Rs 400 per sq.ft (2024)
• Sri Balamurugan Nagar: Rs 400 per sq.ft (2024)
• Sri Balasubramaniam Nagar: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Prakash Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees together to Rs 36,000. It is important to note that 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 Prakash Avenue?

The Sub Registrar Office that covers Prakash Avenue is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thachoor_2

The guideline value is an essential component in the registration process of property transactions in Thachoor_2. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

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 fees. This ensures that the registration process is standardized and transparent for all parties involved.

Frequently asked questions

What is the current guideline value of Prakash Avenue?

The current guideline value of Prakash Avenue is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Prakash Avenue was Rs 300 per sq.ft in 2023 and increased to Rs 400 per sq.ft in 2024. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Prakash Avenue?

Prakash Avenue is classified as Residential Class II Type - I. This classification is important for understanding the types of developments permitted in the area.

What are the stamp duty and registration fees for Prakash Avenue?

For a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 36,000, which includes stamp duty and registration fees. Duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Prakash Avenue located?

The Sub Registrar Office covering Prakash Avenue is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.