Guideline Value for Prasanthi Nagar

Prasanthi Nagar guideline value

The current guideline value of Prasanthi Nagar is Rs 300 per sq.ft, effective from the 2024 revision. This area is located in Echur village under the Sunguvarchattram SRO and is classified as Residential Special Type - I.

How the guideline value of Prasanthi Nagar has changed

Since the 2012 revision, the guideline value for Prasanthi Nagar has remained at Rs 300 per sq.ft as of the 2024 revision. The 2017 revision recorded a lower value of Rs 201 per sq.ft, which marked a significant increase of 49% to Rs 300 per sq.ft in the 2023 revision. The revisions for 2002, 2003, and 2007 do not have any figures listed for this street.

In the 2012 revision, the value was Rs 300 per sq.ft, and it remained unchanged until the 2024 revision. The overall change from 2012 to 2024 shows no increase, maintaining the guideline value at Rs 300 per sq.ft throughout this period.

Guideline values in Echur

In Echur, there are 26 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 300 per sq.ft. The median value for these streets is Rs 150 per sq.ft, placing Prasanthi Nagar's 2024 figure above that median.

• Pillaiyar Kovil Street: Rs 150 per sq.ft (2024)
• Periya Street: Rs 150 per sq.ft (2024)
• Pallikooda Street: Rs 150 per sq.ft (2024)
• Risemil Street: Rs 200 per sq.ft (2024)
• Road Street: Rs 200 per sq.ft (2024)
• Santhiamman Kovil Street: Rs 150 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 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, making the total fees Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Prasanthi Nagar?

The Sub Registrar Office that covers Prasanthi Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Echur. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the government register.

When buying or selling property, the guideline value must be considered as it affects the overall cost of the transaction. Buyers should be aware that the stamp duty is calculated based on the higher amount between 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 300 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft since 2012, with a notable increase from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023.

What is the classification of land in Prasanthi Nagar?

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

Where can I find the Sub Registrar Office for Prasanthi Nagar?

The Sub Registrar Office for Prasanthi Nagar is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for property in Prasanthi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 at the current rate of 7%.