Guideline Value for Prasanth Colony 3rd Street

Prasanth Colony 3rd Street guideline value

The current guideline value of Prasanth Colony 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO, classified as Residential Class I Type - III.

How the guideline value of Prasanth Colony 3rd Street has changed

The guideline value for Prasanth Colony 3rd Street has undergone several revisions over the years. In 2012, the guideline value was Rs 2,500 per sq.ft. This figure remained the same until 2017, when it decreased to Rs 1,675 per sq.ft, marking a reduction of 33%. The value then increased to Rs 2,500 per sq.ft in 2023, and subsequently rose to Rs 2,700 per sq.ft in 2024, reflecting an 8% increase.

From 2017 to 2023, the guideline value saw a significant increase of 49%. Overall, comparing the figures from 2012 to 2024, there has been an 8% increase. The revisions for the years 2002, 2003, and 2007 have no figures recorded for this street in the register.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO with a guideline value range from Rs 850 to Rs 6,700 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, placing the 2024 figure for Prasanth Colony 3rd Street above this median.

• Prasanth Colony 2nd Street: Rs 2,700 per sq.ft (2024)
• Prasanth Colony Extn: Rs 2,700 per sq.ft (2024)
• Prasanth Colony 1st Street: Rs 2,700 per sq.ft (2024)
• Prasanth Colony Main Road: Rs 2,700 per sq.ft (2024)
• Prasanth Colony: Rs 2,700 per sq.ft (2024)
• Pudhu Nagar 1st Cross Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Prasanth Colony 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Prasanth Colony 3rd Street?

The Sub Registrar Office that covers Prasanth Colony 3rd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chembakkam. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the government.

Frequently asked questions

What is the current guideline value of Prasanth Colony 3rd Street?

The current guideline value of Prasanth Colony 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally reaching Rs 2,700 per sq.ft in 2024.

What is the median guideline value in Chembakkam?

The median guideline value in Chembakkam is Rs 2,200 per sq.ft, which is below the current guideline value of Rs 2,700 per sq.ft for Prasanth Colony 3rd Street.

What are the stamp duty rates for properties in Prasanth Colony 3rd Street?

The stamp duty for properties in Prasanth Colony 3rd Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.