Guideline Value for Prabhu Nagar

Prabhu Nagar guideline value

The current guideline value of Prabhu Nagar, located in Old Gummidipoondi village under the Gummidipoondi SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Prabhu Nagar has changed

The guideline value for Prabhu Nagar has seen several revisions over the years. In 2012, the value was Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in 2017. Following this, the value increased significantly to Rs 600 per sq.ft in 2023, and further rose to Rs 660 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. Notably, between 2017 and 2023, there was a substantial increase of 49%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Old Gummidipoondi

In Old Gummidipoondi, there are 90 streets under the Gummidipoondi SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 1,210 per sq.ft. The median value is Rs 660 per sq.ft, making Prabhu Nagar's 2024 figure equal to this median.

• Prabu Nagar Ward No.9 Door No.1-60: Rs 660 per sq.ft (2024)
• Pillayar Koil Street Ward No.10 Door No.1-24a: Rs 660 per sq.ft (2024)
• Railway Colony Ward No.12 Door No.1-43a: Rs 330 per sq.ft (2024)
• Railwaystation Quarters Road: Rs 1,210 per sq.ft (2024)
• Railway Station Road Ward No.11 Door No.1-69: Rs 1,210 per sq.ft (2024)
• Pavazhakattan Street, Ward No.1 Door No.1-55: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Prabhu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, making the total cost for these fees Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Prabhu Nagar?

The Sub Registrar Office that covers Prabhu Nagar is the Gummidipoondi Sub Registrar Office, located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during property transactions in Old Gummidipoondi. It is used to determine the stamp duty and registration fees that must be paid when registering a property sale.

When a property is bought or sold, the guideline value ensures that the transaction is recorded at a fair price, which is essential for maintaining accurate property records and taxation. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Prabhu Nagar?

The current guideline value of Prabhu Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Prabhu Nagar?

Prabhu Nagar falls under the Residential Class II Type - I land classification.

Where can I find the Gummidipoondi Sub Registrar Office?

The Gummidipoondi Sub Registrar Office is located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone.

How is stamp duty calculated in Prabhu Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,60,000, the stamp duty at 7% would be Rs 46,200.