Guideline Value for Prasakam Street (Senthil Nagar)

Prasakam Street (Senthil Nagar) guideline value

The current guideline value of Prasakam Street (Senthil Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village under the Ambattur SRO, classified as Residential Special Type - II.

How the guideline value of Prasakam Street (Senthil Nagar) has changed

The guideline value for Prasakam Street (Senthil Nagar) has undergone several revisions over the years. In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the value increased significantly to Rs 2,700 per sq.ft, which is a rise of 61%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2023 for Prasakam Street (Senthil Nagar).

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft, with a median value of Rs 2,400 per sq.ft. Prasakam Street (Senthil Nagar) has a guideline value that is above this median.

• Prasana Venkateswara Street: Rs 1,600 per sq.ft (2024)
• Prema Avenue: Rs 2,400 per sq.ft (2024)
• Prabhavathi Nagar: Rs 1,500 per sq.ft (2024)
• Power Line Road: Rs 2,400 per sq.ft (2024)
• Purananooru Street(sakthi nagar): Rs 2,400 per sq.ft (2024)
• Ponniyamman Koil Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Prasakam Street (Senthil Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Prasakam Street (Senthil Nagar)?

The Sub Registrar Office that covers Prasakam Street (Senthil Nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers must ensure that the sale price is either equal to or higher than the guideline value to comply with registration requirements.

Frequently asked questions

What is the current guideline value of Prasakam Street (Senthil Nagar)?

The current guideline value of Prasakam Street (Senthil Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,700 per sq.ft in 2024. Overall, from 2012 to 2024, it has increased by 8%.

What is the land classification of Prasakam Street (Senthil Nagar)?

Prasakam Street (Senthil Nagar) is classified as Residential Special Type - II under the Ambattur SRO.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000. The duty is charged on the higher of the guideline value or the sale price.

Which office handles the registration for Prasakam Street (Senthil Nagar)?

The Ambattur Sub Registrar Office is responsible for handling registrations for Prasakam Street (Senthil Nagar), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.