Guideline Value for Prasanth Colony Extn

Prasanth Colony Extn guideline value

The current guideline value of Prasanth Colony Extn is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Chembakkam village and falls under the Selaiyur SRO. The land classification for this locality is Residential Class I Type - III.

How the guideline value of Prasanth Colony Extn has changed

The guideline value for Prasanth Colony Extn has seen several revisions over the years. The earliest recorded figure is from 2007, set at Rs 250 per sq.ft. This value increased significantly to Rs 2,500 per sq.ft in 2012, marking a 900% rise. However, it then decreased to Rs 1,675 per sq.ft in 2017, reflecting a drop of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft following an 8% increase in the 2024 revision.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 980%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Prasanth Colony Extn's 2024 figure above that median.

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

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, while the registration fee at 2% would be Rs 54,000, bringing the total fees together to Rs 2,43,000. 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 detailed calculations.

Which Sub Registrar Office covers Prasanth Colony Extn?

The Sub Registrar Office that covers Prasanth Colony Extn 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. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property transactions in Chembakkam. It serves as a benchmark for determining the minimum price at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid potential disputes during the registration process.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties in a transaction are aware of the financial implications based on the established guideline value.

Frequently asked questions

What is the current guideline value for Prasanth Colony Extn?

The current guideline value for Prasanth Colony Extn 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 significantly over the years, from Rs 250 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 980%.

What is the median guideline value in Chembakkam?

The median guideline value in Chembakkam is Rs 2,200 per sq.ft, with Prasanth Colony Extn's current value exceeding this median.

What are the stamp duty and registration fees for properties in Prasanth Colony Extn?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles property registrations in Prasanth Colony Extn?

The Selaiyur Sub Registrar Office handles property registrations in Prasanth Colony Extn, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.