Guideline Value for Prabu metha nagar

Prabu metha nagar guideline value

The current guideline value of Prabu metha nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Kunnam village and falls under the Sunguvarchattram SRO, classified as Residential Class I Type - I.

How the guideline value of Prabu metha nagar has changed

The guideline value for Prabu metha nagar has seen several revisions over the years. The 2012 revision set the value at Rs 250 per sq.ft, which was then reduced to Rs 167 per sq.ft in the 2017 revision. Following this, the value remained stable at Rs 200 per sq.ft in both the 2023 and 2024 revisions, indicating no change from 2023 to 2024 and a 20% increase from 2017 to 2023. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has decreased by 20%. This reflects a significant fluctuation in values over the years, with the most recent figures indicating a stabilization at Rs 200 per sq.ft.

Guideline values in Kunnam

Kunnam village features 18 streets under the Sunguvarchattram SRO, with the 2024 guideline values ranging from Rs 181 to Rs 660 per sq.ft. The guideline value of Prabu metha nagar aligns with the median value of Rs 200 per sq.ft for this area.

• Perumal Kovil Street: Rs 181 per sq.ft (2024)
• Road Street: Rs 250 per sq.ft (2024)
• New Colony: Rs 181 per sq.ft (2024)
• Nadu Street: Rs 181 per sq.ft (2024)
• Mettu Street: Rs 181 per sq.ft (2024)
• Solai Street: Rs 181 per sq.ft (2024)

Stamp duty and registration fee for property in Prabu metha nagar

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value totals Rs 2,00,000. The stamp duty at 7% amounts to Rs 14,000, while the registration fee at 2% comes to Rs 4,000. Together, the total cost for these fees would be Rs 18,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Prabu metha nagar?

The Sub Registrar Office that covers Prabu metha nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kunnam. It is used to determine the amount of stamp duty and registration fees that need to be paid during the transaction.

When registering a property, buyers must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Prabu metha nagar?

The current guideline value of Prabu metha nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2012 to Rs 167 per sq.ft in 2017, then remained at Rs 200 per sq.ft in both 2023 and 2024.

What is the classification of land in Prabu metha nagar?

Prabu metha nagar is classified as Residential Class I Type - I.

Where can I find the registration office for Prabu metha nagar?

The registration office for Prabu metha nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kunnam?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, if the guideline value is Rs 2,00,000, the stamp duty at 7% would be Rs 14,000.