Guideline Value for Prasad Nagar

Prasad Nagar guideline value

The current guideline value for Prasad Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Mevaloorkuppam B village, under the Sriperumpudur SRO, and is classified as Residential Special Type - I.

How the guideline value of Prasad Nagar has changed

Over the years, the guideline value for Prasad Nagar has seen significant changes. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 400 per sq.ft, and it increased dramatically to Rs 1,320 per sq.ft in 2024, marking a change of +230%.

This increase reflects a substantial rise in the guideline value over the past year, highlighting the current valuation of the property in this area. The 2024 figure is notably higher than the previous year's value, indicating a significant adjustment in the pricing structure.

Guideline values in Mevaloorkuppam B

In Mevaloorkuppam B, there are 84 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 6,200 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing Prasad Nagar's 2024 figure above that median.

• Poongani Amman Nagar: Rs 100 per sq.ft (2024)
• Raghavendra Nagar: Rs 1,320 per sq.ft (2024)
• Peyariadapadatha Manaipirivu: Rs 1,320 per sq.ft (2024)
• Rainbow Nagar: Rs 100 per sq.ft (2024)
• Perumal Koil Street: Rs 400 per sq.ft (2024)
• Rajalakshmi Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Prasad Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total charges Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Prasad Nagar?

The Sub Registrar Office that covers Prasad Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Mevaloorkuppam B. It is the basis for calculating stamp duty and registration fees, which are mandatory costs associated with property transactions.

When buying or selling property, it is essential to consider the guideline value as it influences the overall cost of the transaction. Buyers should be aware that the stamp duty is applied to the higher of the guideline value or the sale price, ensuring that the correct fees are paid during registration.

Frequently asked questions

What is the current guideline value of Prasad Nagar?

The current guideline value of Prasad Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much did the guideline value change from 2023 to 2024?

The guideline value changed from Rs 400 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024, representing an increase of +230%.

What is the land classification of Prasad Nagar?

Prasad Nagar is classified as Residential Special Type - I, indicating its designation for residential use.

Which office handles registrations for Prasad Nagar?

The Sriperumpudur Sub Registrar Office handles registrations for Prasad Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What are the stamp duty rates applicable in Prasad Nagar?

The stamp duty rate in Prasad Nagar is 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.