Guideline Value for Prabhu Avenu

Prabhu Avenu guideline value

The current guideline value of Prabhu Avenu is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Vedapalayam village, under the Uthiramerur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Prabhu Avenu has changed

Over the years, the guideline value of Prabhu Avenu has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 268 per sq.ft. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 400 per sq.ft, a figure that was maintained in the 2023 revision and continues into the 2024 revision.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained stable at Rs 400 per sq.ft.

Guideline values in Vedapalayam

In Vedapalayam, there are 29 streets under the Uthiramerur SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 900 per sq.ft. The median value for these streets is Rs 400 per sq.ft, which aligns with the guideline value of Prabhu Avenu.

• Nukallamman Koil Street: Rs 600 per sq.ft (2024)
• New Selva Seeman Extension: Rs 600 per sq.ft (2024)
• Sanjeevi Nagar: Rs 900 per sq.ft (2024)
• Narasima Nagar: Rs 400 per sq.ft (2024)
• Muthu Krishna Avenu: Rs 400 per sq.ft (2024)
• M.G.R Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Prabhu Avenu

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, while the registration fee at 2% would be Rs 8,000, leading to a total cost of Rs 36,000. 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 Prabhu Avenu?

The Sub Registrar Office that covers Prabhu Avenu is the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Vedapalayam, as it determines the minimum value at which properties can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted transparently and fairly.

During the registration process, the guideline value helps establish a baseline for the property’s worth, which is essential for both buyers and sellers. It ensures that the property is assessed accurately, reflecting its value in the current market.

Frequently asked questions

What is the current guideline value of Prabhu Avenu?

The current guideline value of Prabhu Avenu is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Prabhu Avenu has seen several revisions, with the most recent being Rs 400 per sq.ft in 2023 and 2024. The value was previously Rs 268 per sq.ft in 2017 and Rs 400 per sq.ft in 2012.

What is the land classification of Prabhu Avenu?

Prabhu Avenu is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where is the Uthiramerur Sub Registrar Office located?

The Uthiramerur Sub Registrar Office is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.

How is stamp duty calculated for properties in Prabhu Avenu?

Stamp duty for properties in Prabhu Avenu is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000, resulting in a stamp duty of Rs 28,000.