Guideline Value for Prabhavathi Nagar

Prabhavathi Nagar guideline value

The current guideline value of Prabhavathi Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Thirumullaivoyal village, under the Ambattur SRO, and is classified as Residential Class III Type - II.

How the guideline value of Prabhavathi Nagar has changed

The guideline value for Prabhavathi Nagar has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 94 per sq.ft. This increased to Rs 125 per sq.ft in 2003, followed by a rise to Rs 200 per sq.ft in 2007. The value then saw a significant increase to Rs 1,400 per sq.ft in 2012, but dropped to Rs 938 per sq.ft in 2017. The value rebounded to Rs 1,400 per sq.ft in 2023 and has now reached Rs 1,500 per sq.ft in 2024.

Changes between the revisions show a +1496% increase from 2002 to 2024. Notably, the guideline value increased by 600% from 2007 to 2012, and by 49% from 2017 to 2023. There are no figures available in the register for the years not mentioned in the revisions.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, indicating that the guideline value for Prabhavathi Nagar is below this median.

• Power Line Road: Rs 2,400 per sq.ft (2024)
• Prasakam Street (Senthil Nagar): Rs 2,700 per sq.ft (2024)
• Prasana Venkateswara Street: Rs 1,600 per sq.ft (2024)
• Prema Avenue: Rs 2,400 per sq.ft (2024)
• Ponniyamman Koil Street: Rs 1,600 per sq.ft (2024)
• Purananooru Street(sakthi nagar): Rs 2,400 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 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, making the total fees together Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Prabhavathi Nagar?

The Sub Registrar Office that covers Prabhavathi Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs that both buyers and sellers need to consider. It is important to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Prabhavathi Nagar?

The current guideline value of Prabhavathi Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 94 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, reflecting an overall increase of +1496%.

What is the land classification of Prabhavathi Nagar?

Prabhavathi Nagar is classified as Residential Class III Type - II.

Where can I find the Sub Registrar Office for Prabhavathi Nagar?

The Sub Registrar Office for Prabhavathi Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated in Prabhavathi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 at 7%.