Guideline Value for Prasanthi Nagar

Prasanthi Nagar guideline value

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

How the guideline value of Prasanthi Nagar has changed

The guideline value for Prasanthi Nagar has seen several revisions over the years. The most recent revision in 2024 maintains the value at Rs 800 per sq.ft, which was also the value set in the 2023 revision. Prior to that, in 2017, the guideline value was Rs 536 per sq.ft, marking a significant increase of 49% from 2017 to 2023 and an overall increase of 49% from 2017 to 2024. The register has no figure for this street for the years 2002, 2003, 2007, and 2012.

Guideline values in Irunkattukottai_B

In Irunkattukottai_B, there are 54 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 1,200 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value of Prasanthi Nagar 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, while the registration fee at 2% would be Rs 16,000, bringing the total cost for these fees to Rs 72,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Prasanthi Nagar?

The Sub Registrar Office that covers Prasanthi Nagar is 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_B

The guideline value is a crucial factor in the registration process when buying or selling property in Irunkattukottai_B. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to calculate the necessary fees, ensuring that both the buyer and seller are aware of the financial implications of the transaction. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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?

The guideline value has remained at Rs 800 per sq.ft since 2023, with a significant increase of 49% from Rs 536 per sq.ft in 2017 to 2023. There are no figures available for the years 2002, 2003, 2007, and 2012.

What is the land classification of Prasanthi Nagar?

Prasanthi Nagar is classified as Residential Special Type - I, indicating its intended use for residential purposes.

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

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Prasanthi Nagar?

The Sriperumpudur Sub Registrar Office is responsible for handling registrations in Prasanthi Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.