Guideline Value for PRINCE HIGHLAND

Prince Highland guideline value

The current guideline value of Prince Highland in Iyyappanthangal village is Rs 5,610 per sq.ft, effective from 1 July 2024. This property falls under the Chennai South Joint I SRO and is classified as Residential Special Type - II.

How the guideline value of Prince Highland has changed

The guideline value for Prince Highland has undergone several revisions over the years. The 2012 revision set the value at Rs 5,100 per sq.ft, which then decreased to Rs 3,417 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 5,100 per sq.ft, and the latest 2024 revision has raised it further to Rs 5,610 per sq.ft.

Between these revisions, the most notable changes include a 10% increase from 2023 to 2024, a significant 49% increase from 2017 to 2023, and a 33% decrease from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Iyyappanthangal

Iyyappanthangal has a total of 134 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Prince Highland's 2024 figure above this median.

• Pushpa Nagar 1st Main Road: Rs 1,650 per sq.ft (2024)
• Pushpa Nagar 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Pushpa Nagar 3rd Cross Street: Rs 1,650 per sq.ft (2024)
• Pushpa Nagar 4th Cross Street: Rs 1,650 per sq.ft (2024)
• Pushpa Nagar 5th Cross Street: Rs 1,650 per sq.ft (2024)
• Puspha Nagar 2nd Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Prince Highland

For a 1,000 sq.ft plot at the current guideline value of Rs 5,610 per sq.ft, the total guideline value amounts to Rs 56,10,000. The stamp duty at 7% would be Rs 3,92,700, and the registration fee at 2% would be Rs 1,12,200, bringing the total cost for these fees to Rs 5,04,900. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Prince Highland?

The Sub Registrar Office covering Prince Highland 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 Iyyappanthangal

The guideline value is a crucial factor during the registration process of property transactions in Iyyappanthangal. It serves as the baseline for calculating the stamp duty and registration fees, which are mandatory costs incurred during the buying or selling of property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Prince Highland?

The current guideline value of Prince Highland is Rs 5,610 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. It was Rs 5,100 per sq.ft in 2012, decreased to Rs 3,417 per sq.ft in 2017, and then increased to Rs 5,100 per sq.ft in 2023, finally reaching Rs 5,610 per sq.ft in 2024.

What is the median guideline value in Iyyappanthangal?

The median guideline value in Iyyappanthangal is Rs 2,200 per sq.ft. Prince Highland's 2024 guideline value is above this median.

What are the stamp duty and registration fees for a property in Prince Highland?

For a property valued at Rs 56,10,000, the stamp duty at 7% would be Rs 3,92,700, and the registration fee at 2% would be Rs 1,12,200, totaling Rs 5,04,900 for these fees.

Which office handles registrations for Prince Highland?

The Chennai South Joint I Sub Registrar Office handles registrations for Prince Highland, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.