Guideline Value for PRARTHANA SALAI MAIN ROAD

Prarthana Salai Main Road guideline value

The current guideline value of Prarthana Salai Main Road in Enjambakkam village, under the Neelankarai SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Prarthana Salai Main Road has changed

The guideline value for Prarthana Salai Main Road has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023 and further rose to Rs 2,800 per sq.ft in 2024, marking a 12% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from the 2012 revision to the current 2024 figure, there has been a 12% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 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, placing Prarthana Salai Main Road's current value above this median.

• Prarthana Salai Cross Street: Rs 1,675 per sq.ft (2024)
• Prarthana Avenue: Rs 1,675 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 Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Prarthana Salai Main Road?

The Sub Registrar Office that covers Prarthana Salai Main Road 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 the registration process when buying or selling property in Enjambakkam. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Prarthana Salai Main Road?

The current guideline value of Prarthana Salai Main Road is Rs 2,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification for Prarthana Salai Main Road?

Prarthana Salai Main Road is classified as Residential Class II Type - I.

What are the guideline values for other streets in Enjambakkam?

Other streets in Enjambakkam have varying guideline values, with Prarthana Salai Cross Street and Prarthana Avenue both at Rs 1,675 per sq.ft, while Priyadharshini Garden is at Rs 2,800 per sq.ft.

Where is the Neelankarai Sub Registrar Office located?

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