Guideline Value for PURAM PRAKASAM RAO ROAD

Puram Prakasam Rao Road guideline value

The current guideline value of Puram Prakasam Rao Road is Rs 8,800 per sq.ft, effective from 1 July 2024. This road is located in Mylapore village, under the Mylapore SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of Puram Prakasam Rao Road has changed

The guideline value for Puram Prakasam Rao Road has seen several revisions over the years. The 2012 revision set the value at Rs 8,000 per sq.ft, which then decreased to Rs 5,360 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 8,000 per sq.ft in 2023, and the latest revision in 2024 raised it further to Rs 8,800 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 10%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value is Rs 8,800 per sq.ft, which is the same as the current value for Puram Prakasam Rao Road.

• Pudupalli Street: Rs 8,200 per sq.ft (2024)
• Ps. Sivasamy Iyer Street (From R.H. Road To Cit Colony 1st Cross Street): Rs 22,000 per sq.ft (2024)
• Ps Sivasamy Iyer 2nd Lane: Rs 13,200 per sq.ft (2024)
• Ps Sivasamy Iyer 1st Street: Rs 13,200 per sq.ft (2024)
• Ps Sivasamy Iyer 1st Lane: Rs 13,200 per sq.ft (2024)
• P.S.Sivasami Salai (C.I.T. 1st Cross Street To North End Of The Road): Rs 17,600 per sq.ft (2024)

Stamp duty and registration fee for property in Puram Prakasam Rao Road

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, making the total fees Rs 7,92,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Puram Prakasam Rao Road?

The Sub Registrar Office that covers Puram Prakasam Rao Road is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Mylapore. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value is set by the government and can vary from one street to another.

When a property transaction occurs, the guideline value ensures that the government receives the appropriate revenue from stamp duty and registration fees. This value is essential for maintaining transparency and fairness in real estate transactions within the Mylapore area.

Frequently asked questions

What is the current guideline value of Puram Prakasam Rao Road?

The current guideline value of Puram Prakasam Rao Road is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,000 per sq.ft in 2012 to Rs 5,360 per sq.ft in 2017, then to Rs 8,000 per sq.ft in 2023, and finally to Rs 8,800 per sq.ft in 2024.

Where can I find the Mylapore Sub Registrar Office?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the stamp duty rate for properties in Mylapore?

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

How many streets in Mylapore have a guideline value?

There are 883 streets in Mylapore under the Mylapore SRO that carry a guideline value as per the latest revision.