Guideline Value for Prakasam Street(1st Ward)

Prakasam Street(1st Ward) guideline value

The current guideline value of Prakasam Street(1st Ward) is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, and it falls under the Residential Class IV Type - II land classification.

How the guideline value of Prakasam Street(1st Ward) has changed

The guideline value for Prakasam Street(1st Ward) has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which decreased to Rs 670 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the guideline value to Rs 1,000 per sq.ft. The most recent revision in 2024 has further increased it to Rs 1,100 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Oragadam

In Oragadam, there are a total of 596 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Prakasam Street(1st Ward) has a guideline value below this median, indicating its relative position within the village.

• Prakash Nagar: Rs 2,400 per sq.ft (2024)
• Prakasam (Garu) Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Pudhu Street: Rs 1,900 per sq.ft (2024)
• Pushpa Nagar: Rs 1,600 per sq.ft (2024)
• Pushpa Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Puthur highways: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Prakasam Street(1st Ward)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty, charged at 7%, would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Prakasam Street(1st Ward)?

The Sub Registrar Office that covers Prakasam Street(1st Ward) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. For more information, you can find your SRO.

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

The guideline value plays a crucial role during property transactions in Oragadam, as it is the basis for calculating the stamp duty and registration fees. Buyers and sellers must be aware that the guideline value is used to determine the official value of the property for registration purposes.

When a property is bought or sold, the registration office uses the guideline value to assess the applicable fees, ensuring that both parties comply with the legal requirements. It is essential for both buyers and sellers to be informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Prakasam Street(1st Ward)?

The current guideline value of Prakasam Street(1st Ward) is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Prakasam Street(1st Ward)?

Prakasam Street(1st Ward) is classified as Residential Class IV Type - II.

Where can I find the registration office for Prakasam Street(1st Ward)?

The registration office for Prakasam Street(1st Ward) 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 the stamp duty calculated for properties in Prakasam Street(1st Ward)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a total guideline value of Rs 11,00,000, with stamp duty and registration fees calculated accordingly.