Guideline Value for Prasanthi Colony 3rd Cross Street

Prasanthi Colony 3rd Cross Street guideline value

The current guideline value of Prasanthi Colony 3rd Cross Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, with a land classification of Commercial Class I Type - II.

How the guideline value of Prasanthi Colony 3rd Cross Street has changed

In the 2012 revision, the guideline value was set at Rs 2,200 per sq.ft. This figure remained unchanged through the 2023 revision, where it continued to be Rs 2,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,400 per sq.ft, marking a 9% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2017 for this street in the register.

Guideline values in Madambakkam

There are 1,151 streets in Madambakkam under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value is Rs 2,400 per sq.ft, and the 2024 guideline value for Prasanthi Colony 3rd Cross Street aligns with this median.

• Prasanthi Colony 2nd Street: Rs 2,400 per sq.ft (2024)
• Prasanthi Colony 3rd Street: Rs 2,400 per sq.ft (2024)
• Prasanthi Colony 2nd Main Road: Rs 2,400 per sq.ft (2024)
• Prasanthi Colony 4th Street: Rs 2,400 per sq.ft (2024)
• Prasanthi Colony 2nd Cross Street: Rs 2,400 per sq.ft (2024)
• Prasanthi Colony Main Road: Rs 2,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, resulting in a combined total of Rs 2,16,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Prasanthi Colony 3rd Cross Street?

The Sub Registrar Office that covers Prasanthi Colony 3rd Cross 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. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Madambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware that the registration office uses this value to calculate applicable stamp duties and fees during the transaction.

When purchasing or selling property, it is essential to understand that the guideline value serves as a benchmark for the transaction. It ensures that the property is not undervalued during registration, protecting the interests of both parties involved.

Frequently asked questions

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

The current guideline value of Prasanthi Colony 3rd Cross Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has increased from Rs 2,200 per sq.ft to Rs 2,400 per sq.ft in 2024, marking a 9% increase. The value remained unchanged from 2012 to 2023.

What is the land classification for Prasanthi Colony 3rd Cross Street?

The land classification for Prasanthi Colony 3rd Cross Street is Commercial Class I Type - II. This classification can influence the types of developments permitted in the area.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office handles registrations for properties in the area.

How is stamp duty calculated for properties in Prasanthi Colony 3rd Cross Street?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 24,00,000 would incur a stamp duty of Rs 1,68,000 at 7%.