Guideline Value for PRASANNA GARDEN

Prasanna Garden guideline value

The current guideline value of Prasanna Garden is Rs 3,900 per sq.ft, effective from 1 July 2024. This property is located in Chemmancheri village, under the Neelankarai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Prasanna Garden has changed

The guideline value of Prasanna Garden has seen several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, this was followed by a decrease to Rs 2,345 per sq.ft in 2017. The value then rose to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,900 per sq.ft as of the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 11%. The overall increase from 2007 to 2024 is 160%, highlighting the significant changes in the guideline value over the years.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, placing Prasanna Garden's 2024 figure above this median.

• Pridivraj Garden: Rs 1,000 per sq.ft (2024)
• Prim Liberty Garden: Rs 1,000 per sq.ft (2024)
• Priyadharasini Garden: Rs 1,000 per sq.ft (2024)
• Radhakrishnan Garden: Rs 1,700 per sq.ft (2024)
• Pondichery Pattai Road: Rs 3,300 per sq.ft (2024)
• Pondichery Pattai: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Prasanna Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total charges Rs 3,51,000. 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 Prasanna Garden?

The Sub Registrar Office that covers Prasanna Garden 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 Chemmancheri

The guideline value is a critical factor during property registration in Chemmancheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When buying or selling property, the guideline value ensures that the transaction is documented at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Prasanna Garden?

The current guideline value of Prasanna Garden is Rs 3,900 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 2007 to Rs 3,900 per sq.ft in 2024, reflecting a significant increase over the years.

What is the stamp duty rate for properties in Prasanna Garden?

The stamp duty rate for properties in Prasanna Garden is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Neelankarai Sub Registrar Office?

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

What is the median guideline value for streets in Chemmancheri?

The median guideline value for streets in Chemmancheri is Rs 1,700 per sq.ft, with Prasanna Garden's value being above this median.