Guideline Value for Prasanth Colony Main Road

Prasanth Colony Main Road guideline value

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

How the guideline value of Prasanth Colony Main Road has changed

The guideline value for Prasanth Colony Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the previous revision in 2017, which had it at Rs 1,675 per sq.ft. The 2023 revision increased the value to Rs 2,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 2,700 per sq.ft, marking an increase of 8% from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

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 village is Rs 2,200 per sq.ft, placing Prasanth Colony Main Road's 2024 figure above that median.

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

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Prasanth Colony Main Road?

The Sub Registrar Office that covers Prasanth Colony Main Road 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 more information.

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

When buying or selling property in Chembakkam, the guideline value is used as a reference for determining the stamp duty and registration fees. It is essential to ensure that the sale price is not lower than the guideline value, as the higher amount will be considered for calculating these fees.

At the time of registration, buyers must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Prasanth Colony Main Road?

The current guideline value of Prasanth Colony Main Road 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 2023 to Rs 2,700 per sq.ft in 2024, an increase of 8%. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012, showing a significant increase over the years.

What is the land classification for Prasanth Colony Main Road?

The land classification for Prasanth Colony Main Road is Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Prasanth Colony Main Road?

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

How are stamp duty and registration fees calculated in Chembakkam?

Stamp duty and registration fees in Chembakkam are calculated based on the guideline value or the sale price, whichever is higher. For example, a plot of 1,000 sq.ft at the current guideline value would incur approximately Rs 2,43,000 in total fees.