Guideline Value for Prasanthi Nagar

Prasanthi Nagar guideline value

The current guideline value of Prasanthi Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Echur_B village, under the Sunguvarchattram SRO, and is classified as Residential Special Type - I.

How the guideline value of Prasanthi Nagar has changed

The guideline value for Prasanthi Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 201 per sq.ft, which remained unchanged at Rs 300 per sq.ft in the 2023 revision. The most recent 2024 revision also maintains this value at Rs 300 per sq.ft, indicating a 0% change from 2023 to 2024. Overall, from 2017 to 2024, the guideline value has increased by 49%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. The consistent value of Rs 300 per sq.ft from 2023 to 2024 reflects stability in the guideline value during this period, while the significant increase from 2017 to 2023 highlights a notable change in the preceding years.

Guideline values in Echur_B

In Echur_B, there are 26 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 300 per sq.ft, with a median value of Rs 150 per sq.ft. Prasanthi Nagar's 2024 figure of Rs 300 per sq.ft is above this 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, bringing the total to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, 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 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_B

The guideline value is a crucial factor in the registration process when buying or selling property in Echur_B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value helps in assessing the official value of the property, which is necessary for legal documentation. Buyers and sellers must be aware of this value to avoid 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 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft from 2023 to 2024, and it has increased by 49% from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2024.

What is the land classification of Prasanthi Nagar?

Prasanthi Nagar is classified as Residential Special Type - I, indicating its designation for residential development.

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

The Sub Registrar Office for Prasanthi Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, 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 300 per sq.ft would incur a total guideline value of Rs 3,00,000, leading to a stamp duty of Rs 21,000.