Guideline Value for PRARTHANA SALAI CROSS STREET

Prarthana Salai Cross Street guideline value

The current guideline value of Prarthana Salai Cross Street is Rs 1,675 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village under the Neelankarai SRO, classified as Residential Class II Type - II.

How the guideline value of Prarthana Salai Cross Street has changed

Over the years, the guideline value for Prarthana Salai Cross Street has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. The 2023 revision raised it to Rs 2,000 per sq.ft again, but the most recent 2024 revision has lowered it to Rs 1,675 per sq.ft, marking a decrease of 16% from the previous year.

In summary, the guideline value increased by 49% from Rs 1,340 per sq.ft in 2017 to Rs 2,000 per sq.ft in 2023. However, it has decreased by 33% from the 2012 figure of Rs 2,000 per sq.ft to Rs 1,340 per sq.ft in 2017. Overall, from 2012 to 2024, the guideline value has decreased by 16%.

Guideline values in Enjambakkam

Enjambakkam has a total of 253 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, making the current value of Prarthana Salai Cross Street below that median.

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

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

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

Which Sub Registrar Office covers Prarthana Salai Cross Street?

The Sub Registrar Office that covers Prarthana Salai Cross Street 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Enjambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value helps both parties understand the official valuation of the property. It is essential to consider this value, as the stamp duty is calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Prarthana Salai Cross Street?

The current guideline value of Prarthana Salai Cross Street 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 seen fluctuations, with the 2012 revision at Rs 2,000 per sq.ft, dropping to Rs 1,340 per sq.ft in 2017, and then rising to Rs 2,000 per sq.ft in 2023 before falling to Rs 1,675 per sq.ft in 2024.

What is the land classification of Prarthana Salai Cross Street?

Prarthana Salai Cross Street is classified as Residential Class II Type - II.

Where can I find the registration office for Prarthana Salai Cross Street?

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

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,75,000, the stamp duty would be Rs 1,17,250.