Guideline Value for Prasanna Vinayagar Koil 2nd Street

Prasanna Vinayagar Koil 2nd Street guideline value

The current guideline value of Prasanna Vinayagar Koil 2nd Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village under the Chennai Central Joint I SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Prasanna Vinayagar Koil 2nd Street has changed

The guideline value for Prasanna Vinayagar Koil 2nd Street has seen several revisions over the years. In the 2023 revision, the guideline value was Rs 8,000 per sq.ft. The most recent revision in 2024 increased this figure to Rs 8,700 per sq.ft, reflecting a change of +9% from the previous year. The register has no figure for this street in the years 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value has increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024. The absence of figures for earlier years indicates that there may not have been any recorded changes for Prasanna Vinayagar Koil 2nd Street during those periods.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 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 these streets is Rs 8,800 per sq.ft, placing the 2024 figure for Prasanna Vinayagar Koil 2nd Street below the median.

• Prasanna Vinayagar Koil 1st 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 2nd Street

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

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

Which Sub Registrar Office covers Prasanna Vinayagar Koil 2nd Street?

The Sub Registrar Office covering Prasanna Vinayagar Koil 2nd Street is 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 information.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore Part 2. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are essential for the legal transfer of property ownership and must be paid to the relevant authorities during the registration process.

Frequently asked questions

What is the current guideline value of Prasanna Vinayagar Koil 2nd Street?

The current guideline value of Prasanna Vinayagar Koil 2nd Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, marking a +9% increase. The register has no figure for this street in the years 2017, 2012, 2007, 2003, and 2002.

What are the guideline values of other streets in Mylapore Part 2?

Other streets in Mylapore Part 2 have varying guideline values. For instance, Prasanna Vinayagar Koil 1st Street, 3rd Street, and Prasanna Vinayagar Koil Street all have a guideline value of Rs 8,700 per sq.ft in 2024, while Pudupet Garden 1st, 2nd, and 3rd Lanes are valued at Rs 7,700 per sq.ft.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 87,00,000, the stamp duty at 7% would amount to Rs 6,09,000.

Where can I find the Sub Registrar Office for Prasanna Vinayagar Koil 2nd Street?

The Sub Registrar Office for Prasanna Vinayagar Koil 2nd Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find more information online.