Guideline Value for Prasana Venkateswara Street

Prasana Venkateswara Street guideline value

The current guideline value of Prasana Venkateswara Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village, under the Ambattur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Prasana Venkateswara Street has changed

The guideline value for Prasana Venkateswara Street has seen significant changes over the years. In the 2002 revision, the value was Rs 139 per sq.ft. This increased to Rs 160 per sq.ft in 2003, marking a 15% rise. The value continued to grow to Rs 200 per sq.ft in 2007, representing a 25% increase. The 2012 revision saw a substantial jump to Rs 1,500 per sq.ft, reflecting a remarkable 650% increase. However, from 2012 to 2023, the value remained unchanged at Rs 1,500 per sq.ft. The latest 2024 revision has set the guideline value at Rs 1,600 per sq.ft, which is a 7% increase from the previous year.

It is important to note that there is no figure available for Prasana Venkateswara Street in the 2017 revision. Overall, the guideline value has increased by 1,051% from the 2002 revision to the current 2024 figure.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal village, 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. The median guideline value in the village is Rs 2,400 per sq.ft, placing Prasana Venkateswara Street's 2024 figure below this median.

• Prasakam Street (Senthil Nagar): Rs 2,700 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 Prasana Venkateswara Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000. Thus, the total cost for stamp duty and registration fee together would be Rs 1,44,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Prasana Venkateswara Street?

The Sub Registrar Office that covers Prasana Venkateswara Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Thirumullaivoyal. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the costs associated with property transactions. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Prasana Venkateswara Street?

The current guideline value of Prasana Venkateswara Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 139 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 1,051% over the years.

What is the land classification for Prasana Venkateswara Street?

Prasana Venkateswara Street is classified as Residential Class III Type - I.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,44,000.

Which Sub Registrar Office covers this street?

The Ambattur Sub Registrar Office covers Prasana Venkateswara Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.