Guideline Value

Corporate

Guideline Value for Prasanthi Colony

₹2400/sq.ft.

The guideline value for Prasanthi Colony in Madambakkam village (Selaiyur SRO, Chengalpattu zone) is Rs 2400 per sq.ft, effective 1 July 2024. The land classification is Commercial Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chengalpattu

Zone

Madambakkam

Village

Selaiyur

SRO

Commercial Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹2400 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹1474 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2200 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.36,bharathmatha Salai(opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur,chennai - 600 073.
044-22391102
[email protected]

DRO (District Registrar Office)

Tambaram District Registrar Office,no.47/8,venkatesan Street,tambaram (west),chennai- 600 045.
null
[email protected], [email protected]

DIG (Deputy Inspector General)

No 10., Kancheepuram High Road., Chenglepet
null
[email protected]
Records for a plot on Prasanthi Colony

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Prasanthi Colony guideline value

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

How the guideline value of Prasanthi Colony has changed

The guideline value of Prasanthi Colony has undergone several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which was followed by a decrease to Rs 1,474 per sq.ft in the 2017 revision. The most recent revision in 2024 has increased the value to Rs 2,400 per sq.ft, marking a 63% increase from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets 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, which is equal to the current guideline value for Prasanthi Colony.

Stamp duty and registration fee for property in Prasanthi Colony

For a 1,000 sq.ft plot at the current rate of Rs 2,400 per sq.ft, 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. It is important to 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 Prasanthi Colony?

The Sub Registrar Office that covers Prasanthi Colony 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 Madambakkam

The guideline value is a crucial factor in the registration of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, both parties must consider the guideline value to avoid discrepancies during the registration process. It is advisable to consult the latest guideline value to ensure compliance with legal requirements and to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value of Prasanthi Colony?

The current guideline value of Prasanthi Colony 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 changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, and then increased to Rs 2,400 per sq.ft in 2024. Overall, this reflects a 9% increase from the 2012 figure to the 2024 figure.

What is the land classification of Prasanthi Colony?

Prasanthi Colony is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for property transactions?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is charged at 2%. These fees are based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Prasanthi Colony located?

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