Guideline Value for PRARTHANA AVENUE

Prarthana Avenue guideline value

The current guideline value of Prarthana Avenue is Rs 1,675 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village, under the Neelankarai SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Prarthana Avenue has changed

The guideline value for Prarthana Avenue has seen several revisions over the years. In 2003, the value was Rs 179 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2007, marking a 179% rise. The value then surged by 300% to Rs 2,000 per sq.ft in 2012. However, it dropped back to Rs 1,340 per sq.ft in 2017, reflecting a decrease of 33%. The value further increased to Rs 2,000 per sq.ft in 2023, a 49% rise, before declining to the current figure of Rs 1,675 per sq.ft in 2024, which is a 16% decrease.

It is important to note that there is no figure available for this street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 836%.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft, with a median value of Rs 2,200 per sq.ft. Prarthana Avenue's current guideline value is below this median.

• Prarthana Salai Cross Street: Rs 1,675 per sq.ft (2024)
• Prarthana Salai Main Road: Rs 2,800 per sq.ft (2024)
• Prabala Nagar: Rs 2,200 per sq.ft (2024)
• Priyadharshini Garden: Rs 2,800 per sq.ft (2024)
• Pothigai Street: Rs 1,700 per sq.ft (2024)
• Poornima Garden: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Prarthana Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,675 per sq.ft, the total guideline value amounts to Rs 16,75,000. The stamp duty, charged at 7%, would be Rs 1,17,250, and the registration fee at 2% would be Rs 33,500. Together, the total cost for stamp duty and registration would be Rs 1,50,750. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Prarthana Avenue?

The Sub Registrar Office that covers Prarthana Avenue is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Enjambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Prarthana Avenue?

The current guideline value of Prarthana Avenue is Rs 1,675 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 179 per sq.ft in 2003 to Rs 1,675 per sq.ft in 2024, reflecting an overall increase of 836% over this period.

What is the land classification for Prarthana Avenue?

Prarthana Avenue is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Prarthana Avenue?

The Sub Registrar Office for Prarthana Avenue is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What are the stamp duty and registration fees for properties in Prarthana Avenue?

The stamp duty for properties in Prarthana Avenue is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 16,75,000, the total fees would amount to Rs 1,50,750.