Guideline Value for PRASANNA VINAYAGAR KOIL STREET

Prasanna Vinayagar Koil Street guideline value

The current guideline value of Prasanna Vinayagar Koil Street is Rs 6,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Prasanna Vinayagar Koil Street has changed

The guideline value for Prasanna Vinayagar Koil Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,800 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, it then decreased to Rs 4,020 per sq.ft in 2017. Following this, the value rose to Rs 6,000 per sq.ft in 2023, and currently stands at Rs 6,500 per sq.ft as of the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. The transition from 2012 to 2017 saw a decrease of 33%, while the jump from 2007 to 2012 was a remarkable 233%. Overall, from 2007 to 2024, the guideline value has increased by 261%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median value of Rs 5,500 per sq.ft. The guideline value for Prasanna Vinayagar Koil Street is above this median.

• Potters Street: Rs 4,900 per sq.ft (2024)
• Pudhu Thandavarayan Mudali Street: Rs 5,500 per sq.ft (2024)
• Poonamallee High Road Lane (A) E.V.R Periyar Lane: Rs 13,200 per sq.ft (2024)
• Poonamallee High Road (A) E.V.R Periyar High Road: Rs 18,100 per sq.ft (2024)
• Poonamallee High Road 2nd Lane: Rs 13,200 per sq.ft (2024)
• Poonamallee High Road 1st Lane: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Prasanna Vinayagar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,500 per sq.ft, the total guideline value would be Rs 65,00,000. The stamp duty at 7% would amount to Rs 4,55,000, and the registration fee at 2% would be Rs 1,30,000, making the total cost for these fees Rs 5,85,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Prasanna Vinayagar Koil Street?

The Sub Registrar Office that covers Prasanna Vinayagar Koil Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Purasaivakkam. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately in accordance with government regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Prasanna Vinayagar Koil Street?

The current guideline value of Prasanna Vinayagar Koil Street is Rs 6,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen several revisions, starting from Rs 1,800 per sq.ft in 2007 to Rs 6,500 per sq.ft in 2024, reflecting various increases and decreases in the interim.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 65,00,000, the stamp duty would be Rs 4,55,000 and the registration fee would be Rs 1,30,000, totaling Rs 5,85,000. This is based on the current guideline value.

Where is the Sub Registrar Office located for this street?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, which covers Prasanna Vinayagar Koil Street.

What is the land classification for Prasanna Vinayagar Koil Street?

Prasanna Vinayagar Koil Street is classified as Residential Class II Type - II, indicating its designated use for residential purposes.