Guideline Value for PRASANTHI NAGAR

Prasanthi Nagar guideline value

The current guideline value of Prasanthi Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Kolatti village under the Ponneri SRO, classified as Residential Class I Type - I.

How the guideline value of Prasanthi Nagar has changed

The guideline value for Prasanthi Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 300 per sq.ft. This figure then decreased to Rs 201 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 300 per sq.ft, and in the latest 2024 revision, it rose again to Rs 330 per sq.ft, marking a 10% increase from the previous year.

Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kolatti

In Kolatti village, there are 18 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 330 per sq.ft, with a median value of Rs 275 per sq.ft. The guideline value of Prasanthi Nagar is above this median.

• P.S.Srinivasa Nagar: Rs 330 per sq.ft (2024)
• Pudhupedu Adidravidar Kudi Irupu: Rs 220 per sq.ft (2024)
• Pudupedu Grama Sudukadu Pattai: Rs 220 per sq.ft (2024)
• Puduppedu School Road: Rs 220 per sq.ft (2024)
• Parasakthi Nagar: Rs 220 per sq.ft (2024)
• Ram Tulasi Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Prasanthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, and the registration fee at 2% would be Rs 6,600, making the total cost for these fees Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Prasanthi Nagar?

The Prasanthi Nagar area is covered by the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor in the property registration process in Kolatti. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction.

When registering a property, the guideline value will influence the stamp duty and registration fees payable. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Prasanthi Nagar?

The current guideline value of Prasanthi Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then increased to Rs 300 per sq.ft in 2023, and finally to Rs 330 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Prasanthi Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a plot of 1,000 sq.ft at the current rate, the total fees would be Rs 29,700.

Which Sub Registrar Office covers Prasanthi Nagar?

The Ponneri Sub Registrar Office covers Prasanthi Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is the guideline value determined in Kolatti?

The guideline value in Kolatti is determined by the Registration Department's guideline value register. It varies for different streets and is classified based on land type, with Prasanthi Nagar classified as Residential Class I Type - I.