Guideline Value for Prasanthi Avenue

Prasanthi Avenue guideline value

The current guideline value of Prasanthi Avenue is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village, under the Ambattur SRO, and is classified as Residential Special Type - II.

How the guideline value of Prasanthi Avenue has changed

The guideline value for Prasanthi Avenue has seen significant changes over the years. In the 2017 revision, the guideline value was Rs 1,072 per sq.ft, which increased to Rs 1,600 per sq.ft in the 2023 revision, marking a 49% increase. The most recent 2024 revision set the value at Rs 1,700 per sq.ft, reflecting a 6% increase from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 59%.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 1,300 per sq.ft, making Prasanthi Avenue's 2024 figure of Rs 1,700 per sq.ft above that median.

• Pound Street: Rs 880 per sq.ft (2024)
• Pound Cross Street: Rs 880 per sq.ft (2024)
• Ponni Street (jayaram nagar): Rs 1,100 per sq.ft (2024)
• Raghavan Cross Street(Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Raghavan Salai(Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Prasanthi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, while the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Prasanthi Avenue?

The Sub Registrar Office that covers Prasanthi Avenue is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Ayappakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately and that the appropriate fees are calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Prasanthi Avenue?

The current guideline value of Prasanthi Avenue is Rs 1,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,072 per sq.ft to Rs 1,700 per sq.ft, which is an overall increase of 59%.

What is the land classification for Prasanthi Avenue?

Prasanthi Avenue is classified as Residential Special Type - II.

Where can I find the Sub Registrar Office for Prasanthi Avenue?

The Sub Registrar Office for Prasanthi Avenue is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

How is stamp duty calculated for properties in Prasanthi Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 at a rate of 7%.