Guideline Value for Prasanna Vinayagar Koil 1st Street

Prasanna Vinayagar Koil 1st Street guideline value

The current guideline value of Prasanna Vinayagar Koil 1st Street is Rs 8,700 per sq.ft. This street is located in Mylapore Part 1 village, under the Chennai Central Joint I SRO, and is classified as Residential Class I Type - III.

How the guideline value of Prasanna Vinayagar Koil 1st Street has changed

The guideline value for Prasanna Vinayagar Koil 1st Street has seen several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 8,000 per sq.ft, which increased to Rs 8,700 per sq.ft in the 2024 revision, marking a change of +9%.

Prior to the 2023 revision, the register does not contain any figures for this street. The 2024 revision reflects the current market conditions and is part of a broader set of guideline values established for the area.

Guideline values in Mylapore Part 1

Mylapore Part 1 has a total of 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for the area is Rs 8,800 per sq.ft, placing Prasanna Vinayagar Koil 1st Street's 2024 figure below this median.

• Prasanna Vinayagar Koil 2nd Street: Rs 8,700 per sq.ft (2024)
• Prasanna Vinayagar Koil 3rd Street: Rs 8,700 per sq.ft (2024)
• Prasanna Vinayagar Koil Street: Rs 8,700 per sq.ft (2024)
• Pudupet Garden 1st Lane: Rs 7,700 per sq.ft (2024)
• Pudupet Garden 2nd Lane: Rs 7,700 per sq.ft (2024)
• Pudupet Garden 3rd Lane: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Prasanna Vinayagar Koil 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 8,700 per sq.ft, the guideline value amounts to Rs 87,00,000. The stamp duty, calculated at 7%, would be Rs 6,09,000, while the registration fee at 2% would be Rs 1,74,000. Together, the total cost for these fees would be Rs 7,83,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Prasanna Vinayagar Koil 1st Street?

The Prasanna Vinayagar Koil 1st Street falls under the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value plays a crucial role in property transactions in Mylapore Part 1. It is used to determine the stamp duty and registration fees that need to be paid during the registration process.

Frequently asked questions

What is the current guideline value of Prasanna Vinayagar Koil 1st Street?

The current guideline value of Prasanna Vinayagar Koil 1st Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased by 9%, from Rs 8,000 per sq.ft to Rs 8,700 per sq.ft.

What is the land classification for Prasanna Vinayagar Koil 1st Street?

Prasanna Vinayagar Koil 1st Street is classified as Residential Class I Type - III.

Which office handles registrations for this street?

The Chennai Central Joint I Sub Registrar Office handles registrations for Prasanna Vinayagar Koil 1st Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated on property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the correct fees are applied during the registration of the property.