Guideline Value for Prasanthi Colony 4th Street

Prasanthi Colony 4th Street guideline value

The current guideline value of Prasanthi Colony 4th Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Commercial Class I Type - II.

How the guideline value of Prasanthi Colony 4th Street has changed

In the 2012 revision, the guideline value was Rs 2,200 per sq.ft, which remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 2,400 per sq.ft, marking a 9% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, there has been a 9% increase in the guideline value. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value is Rs 2,400 per sq.ft, and Prasanthi Colony 4th Street's 2024 figure aligns with this median.

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

Stamp duty and registration fee for property in Prasanthi Colony 4th Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, totaling Rs 2,16,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Prasanthi Colony 4th Street?

The Sub Registrar Office that covers Prasanthi Colony 4th 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 critical factor during property registration in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the official assessment, helping to maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Prasanthi Colony 4th Street?

The current guideline value of Prasanthi Colony 4th Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,200 per sq.ft in 2012 to Rs 2,400 per sq.ft in 2024, marking a 9% increase. There was no change from 2012 to 2023.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in Prasanthi Colony 4th Street is 7%. This is calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in this area?

The Selaiyur Sub Registrar Office handles property registrations for Prasanthi Colony 4th Street, located in East Tambaram, Chennai.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft, which is the same as the current guideline value for Prasanthi Colony 4th Street.