Guideline Value for Prabhu Street

Prabhu Street guideline value

The current guideline value of Prabhu Street in Pammal village is Rs 1,760 per sq.ft, effective from 1 July 2024. This street falls under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class III Type - II.

How the guideline value of Prabhu Street has changed

The guideline value for Prabhu Street has undergone several revisions over the years. In 2002, the value was Rs 109 per sq.ft, which increased to Rs 124 per sq.ft in 2003, marking a 14% rise. The value then saw a significant increase to Rs 260 per sq.ft in 2007, representing a 110% change from the previous revision. There are no figures available for the years 2012, 2017, and 2023.

The most recent revision in 2024 set the guideline value at Rs 1,760 per sq.ft, reflecting a substantial increase of 577% from the 2007 figure. Overall, from 2002 to 2024, the guideline value has increased by 1515%, showcasing the changes in property valuation over the years.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Prabhu Street's 2024 figure below this median.

• Pragalathan Street, Shankar Nagar: Rs 2,750 per sq.ft (2024)
• Pragalathan Street /VOC Nagar: Rs 2,750 per sq.ft (2024)
• Prabhudas Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Prabhakaran Street / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Pozhichallur Main Road, Pasumpon Nagar: Rs 2,750 per sq.ft (2024)
• Prashanthi Nagar: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Prabhu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, while the registration fee at 2% would be Rs 35,200. Together, these fees total Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Prabhu Street?

The Prabhu Street falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Pammal

The guideline value plays a crucial role during property transactions in Pammal. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations associated with property transactions. Accurate knowledge of these values ensures compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Prabhu Street?

The current guideline value of Prabhu Street is Rs 1,760 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 109 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, reflecting an overall increase of 1515% over the years.

What is the land classification of Prabhu Street?

Prabhu Street is classified as Residential Class III Type - II, which indicates its designated use for residential purposes.

Where can I find the registration office for Prabhu Street?

The registration office for Prabhu Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for properties in Prabhu Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 17,60,000 would incur a stamp duty of Rs 1,23,200 at 7%.