Guideline Value for Prasanna Garden Phase -II

Prasanna Garden Phase -II guideline value

The current guideline value of Prasanna Garden Phase -II is Rs 500 per sq.ft, effective from 1 July 2024. This property is located in Karunilam village under the Chengleput Joint II SRO and falls under the Residential Class I Type - I land classification.

How the guideline value of Prasanna Garden Phase -II has changed

The guideline value for Prasanna Garden Phase -II has remained consistent at Rs 500 per sq.ft in both the 2023 and 2024 revisions. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017.

In summary, from the 2023 revision to the 2024 revision, there was no change, reflecting a stable guideline value of Rs 500 per sq.ft over these two years.

Guideline values in Karunilam

In Karunilam, there are 35 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 400 to Rs 1,200 per sq.ft. The median guideline value for these streets is Rs 501 per sq.ft, making Prasanna Garden Phase -II's 2024 figure below that median.

• Prabhavathi Nagar: Rs 501 per sq.ft (2024)
• Nehru Nagar Phase-IV: Rs 500 per sq.ft (2024)
• Nehru Nagar: Rs 500 per sq.ft (2024)
• Mgm Nagar: Rs 700 per sq.ft (2024)
• Metro Prasana Garden Phase -II: Rs 500 per sq.ft (2024)
• Metro Prasana Garden House Site Scheme: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Prasanna Garden Phase -II

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Prasanna Garden Phase -II?

The Chengleput Joint II Sub Registrar Office covers Prasanna Garden Phase -II. The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002 in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Karunilam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When a property is sold, the registration office uses the guideline value to calculate applicable duties and fees. This ensures that all transactions adhere to the legal framework established by the Registration Department.

Frequently asked questions

What is the current guideline value of Prasanna Garden Phase -II?

The current guideline value of Prasanna Garden Phase -II is Rs 500 per sq.ft, effective from 1 July 2024.

Have there been any changes to the guideline value recently?

Yes, the guideline value has remained unchanged at Rs 500 per sq.ft from the 2023 revision to the 2024 revision, indicating stability in this figure.

What is the land classification for Prasanna Garden Phase -II?

Prasanna Garden Phase -II is classified under Residential Class I Type - I land classification.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002 in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Prasanna Garden Phase -II?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 5,00,000, the stamp duty would be Rs 35,000.