Guideline Value for Prasannalaxmi Nagar

Prasannalaxmi Nagar guideline value

The current guideline value of Prasannalaxmi Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Nemili_B village under the Sriperumpudur SRO, classified as Residential Class III Type - I.

How the guideline value of Prasannalaxmi Nagar has changed

The guideline value for Prasannalaxmi Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 200 per sq.ft, which is a significant decrease of 60% from the previous year's figure of Rs 500 per sq.ft established in 2023. For the years 2017, 2012, 2007, 2003, and 2002, the register has no figure for this street.

The 2024 revision marks a notable change in the guideline value, especially when compared to the 2023 revision. The previous values reflect a higher rate, indicating fluctuations in the property valuation over the years, with the current rate being below the median value of Rs 250 per sq.ft for other streets in Nemili_B.

Guideline values in Nemili_B

Nemili_B village has 97 streets under the Sriperumpudur SRO, with guideline values ranging from Rs 150 to Rs 1,500 per sq.ft in 2024. The current guideline value for Prasannalaxmi Nagar is below the median of Rs 250 per sq.ft. Below are the guideline values for other streets in Nemili_B:

• Prime City: Rs 200 per sq.ft (2024)
• Prince Paradise (Prince Residencia): Rs 1,000 per sq.ft (2024)
• Pump Room Street: Rs 150 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 200 per sq.ft (2024)
• Rajaji Street: Rs 150 per sq.ft (2024)
• Rajan Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Prasannalaxmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, making a total of Rs 18,000. 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 Prasannalaxmi Nagar?

The Sub Registrar Office that covers Prasannalaxmi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Nemili_B. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately, reflecting the official valuation set by the registration department. This process helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Prasannalaxmi Nagar?

The current guideline value of Prasannalaxmi Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value decreased from Rs 500 per sq.ft in 2023 to Rs 200 per sq.ft in 2024, marking a reduction of 60%.

What is the land classification for Prasannalaxmi Nagar?

Prasannalaxmi Nagar is classified as Residential Class III Type - I.

Where can I find the registration office for Prasannalaxmi Nagar?

The registration office for Prasannalaxmi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for property in Prasannalaxmi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft would incur a total stamp duty and registration fee of Rs 18,000.