Guideline Value for PRASAD GARDEN SALAI

Prasad Garden Salai guideline value

The current guideline value of Prasad Garden Salai is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village, under the Chennai South Joint I SRO, with a land classification of Residential Class IV Type - III.

How the guideline value of Prasad Garden Salai has changed

The guideline value for Prasad Garden Salai has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and then rose again to Rs 1,650 per sq.ft in the 2024 revision.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value is Rs 2,530 per sq.ft, indicating that the guideline value of Prasad Garden Salai is below this median.

• Puratchi Thalaivi Nagar 1st Left Cross Street: Rs 1,100 per sq.ft (2024)
• Puratchi Thalaivi Nagar 1st Right Cross Street: Rs 1,100 per sq.ft (2024)
• Puratchi Thalaivi Nagar 2nd Left Cross Street: Rs 1,100 per sq.ft (2024)
• Puratchi Thalaivi Nagar 2nd Right Cross Street: Rs 1,100 per sq.ft (2024)
• Puratchi Thalaivi Nagar 3rd Left Cross Street: Rs 1,100 per sq.ft (2024)
• Puratchi Thalaivi Nagar 3rd Right Cross Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Prasad Garden Salai

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 more details.

Which Sub Registrar Office covers Prasad Garden Salai?

The Sub Registrar Office that covers Prasad Garden Salai is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Manapakkam, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Prasad Garden Salai?

The current guideline value of Prasad Garden Salai is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Prasad Garden Salai?

Prasad Garden Salai is classified as Residential Class IV Type - III under the Chennai South Joint I SRO.

What are the guideline values of other streets in Manapakkam?

Other streets in Manapakkam have guideline values ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 and a registration fee of Rs 33,000.