Guideline Value for PRAKASH NAGAR

Prakash Nagar guideline value

The current guideline value of Prakash Nagar, located in Nadukuthagai village under the Avadi SRO, is Rs 1,590 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Prakash Nagar has changed

The guideline value for Prakash Nagar has undergone several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which then increased significantly to Rs 1,200 per sq.ft in 2012, reflecting a rise of 380%. However, between 2012 and 2017, the value decreased by 19% to Rs 971 per sq.ft. The subsequent revision in 2023 saw a substantial increase of 49%, bringing the value to Rs 1,450 per sq.ft. The latest revision in 2024 marks a further increase of 10%, setting the current value at Rs 1,590 per sq.ft. The register has no figures for the years 2002 and 2003.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 536%. This substantial growth indicates the changing landscape of property values in the area.

Guideline values in Nadukuthagai

Nadukuthagai village has a total of 35 streets under the Avadi SRO, with the 2024 guideline values ranging from Rs 330 to Rs 1,980 per sq.ft. The median value for these streets is Rs 880 per sq.ft, placing Prakash Nagar's current value above this median.

• Prakash Nagar Main Road: Rs 1,590 per sq.ft (2024)
• Prakash Nagar West: Rs 1,590 per sq.ft (2024)
• Ponniamman Nagar: Rs 330 per sq.ft (2024)
• Periyapalayam High Road: Rs 600 per sq.ft (2024)
• Om Sakthi Nagar: Rs 1,590 per sq.ft (2024)
• Om Nest: Rs 1,590 per sq.ft (2024)

Stamp duty and registration fee for property in Prakash Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,590 per sq.ft, the total guideline value amounts to Rs 15,90,000. The stamp duty at 7% would be Rs 1,11,300, while the registration fee at 2% would be Rs 31,800, bringing the total cost for these fees to Rs 1,43,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Prakash Nagar?

The Sub Registrar Office covering Prakash Nagar is 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 additional details.

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

The guideline value is a critical factor in property transactions within Nadukuthagai, as it determines the amount of stamp duty and registration fees payable during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When purchasing property, the guideline value is used to assess the fees, and it is essential to verify the latest figures to avoid any discrepancies during registration. This value serves as a benchmark for the legal documentation required for property transactions.

Frequently asked questions

What is the current guideline value of Prakash Nagar?

The current guideline value of Prakash Nagar is Rs 1,590 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 250 per sq.ft in 2007 to Rs 1,590 per sq.ft in 2024, marking an overall increase of 536% over the years.

What is the registration office for Prakash Nagar?

The registration office for Prakash Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

What are the stamp duty and registration fees for property in Prakash Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 1,11,300 and the registration fee is Rs 31,800, totaling Rs 1,43,100.

What is the land classification of Prakash Nagar?

Prakash Nagar is classified as Residential Special Type - I, which is important for understanding its zoning and permissible uses.