Guideline Value for Prabhavathi Nagar

Prabhavathi Nagar guideline value

The current guideline value of Prabhavathi Nagar is Rs 501 per sq.ft, effective from 1 July 2024. This area is located in Karunilam village, under the Chengleput Joint II SRO, and is classified as Mixed Type - I land.

How the guideline value of Prabhavathi Nagar has changed

In the 2023 revision, the guideline value for Prabhavathi Nagar was Rs 500 per sq.ft. The 2024 revision shows a slight increase, with the current guideline value set at Rs 501 per sq.ft, reflecting no percentage change between these two revisions. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Since the 2024 revision is the latest, it indicates a stable guideline value compared to the previous year. The absence of figures in earlier revisions suggests a consistent valuation approach in recent years.

Guideline values in Karunilam

In Karunilam, there are 35 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 1,200 per sq.ft. The median value is Rs 501 per sq.ft, which aligns with the guideline value of Prabhavathi Nagar.

• Prasanna Garden Phase -II: Rs 500 per sq.ft (2024)
• Nehru Nagar Phase-IV: Rs 500 per sq.ft (2024)
• Nehru Nagar: Rs 500 per sq.ft (2024)
• Mgm Nagar: Rs 700 per sq.ft (2024)
• Metro Prasana Garden Phase -II: Rs 500 per sq.ft (2024)
• Metro Prasana Garden House Site Scheme: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Prabhavathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 501 per sq.ft, the total guideline value amounts to Rs 5,01,000. The stamp duty at 7% would be Rs 35,070, and the registration fee at 2% would be Rs 10,020, bringing the total fees to Rs 45,090. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Prabhavathi Nagar?

The Sub Registrar Office that covers Prabhavathi Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial component in the registration process when buying or selling property in Karunilam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these charges are based on a standardized valuation.

When a property is sold, the guideline value helps determine the official sale price for registration purposes. This ensures transparency in transactions and helps maintain a consistent valuation framework within the region.

Frequently asked questions

What is the current guideline value of Prabhavathi Nagar?

The current guideline value of Prabhavathi Nagar is Rs 501 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 500 per sq.ft in 2023 to Rs 501 per sq.ft in 2024, reflecting no percentage change. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the land classification for Prabhavathi Nagar?

Prabhavathi Nagar is classified as Mixed Type - I land, which indicates the nature of development permissible in this area.

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

For a property valued at Rs 5,01,000, the stamp duty would be Rs 35,070 and the registration fee would be Rs 10,020, totaling Rs 45,090. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Prabhavathi Nagar located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in Prabhavathi Nagar.