Guideline Value for Prasanthi Nagar

Prasanthi Nagar guideline value

The current guideline value of Prasanthi Nagar, located in Irunkattukottai village under the Sriperumpudur SRO, is Rs 800 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Prasanthi Nagar has changed

Over the years, the guideline value of Prasanthi Nagar has seen several revisions. The 2007 revision set the value at Rs 100 per sq.ft, which increased significantly to Rs 800 per sq.ft in the 2012 revision. However, it then decreased to Rs 536 per sq.ft in the 2017 revision before remaining stable at Rs 800 per sq.ft in both the 2023 and 2024 revisions. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%. The substantial jump from 2007 to 2012 was 700%, while the overall increase from 2007 to 2024 is also 700%. The guideline value has remained consistent at Rs 800 per sq.ft since 2023.

Guideline values in Irunkattukottai

In Irunkattukottai, there are 56 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 1,250 per sq.ft, with a median value of Rs 400 per sq.ft. Prasanthi Nagar's guideline value of Rs 800 per sq.ft is above this median.

• Plot Street: Rs 400 per sq.ft (2024)
• Rajaji Street: Rs 400 per sq.ft (2024)
• Periyar Street: Rs 600 per sq.ft (2024)
• Rajalaxmi Nagar: Rs 400 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 400 per sq.ft (2024)
• Sabari Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Prasanthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total fees to Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Prasanthi Nagar?

The Prasanthi Nagar area is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process for property transactions in Irunkattukottai. It is used to determine the stamp duty and registration fees that must be paid at the time of registration.

When buying or selling a property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for both legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Prasanthi Nagar?

The current guideline value of Prasanthi Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased by 700% overall, with significant changes noted in various revisions, including a 49% increase from 2017 to 2023.

What is the land classification of Prasanthi Nagar?

Prasanthi Nagar is classified as Residential Special Type - I, which indicates its suitability for residential development.

Where can I find the registration office for Prasanthi Nagar?

The Sriperumpudur Sub Registrar Office, which covers Prasanthi Nagar, is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Prasanthi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 800 per sq.ft would incur stamp duty and registration fees totaling Rs 72,000.