Guideline Value for Prasath Garden

Prasath Garden guideline value

The current guideline value of Prasath Garden is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is located in Sholinganallur - 1 village under the Neelankarai SRO and is classified as Residential Class IV Type - I.

How the guideline value of Prasath Garden has changed

The guideline value of Prasath Garden has seen significant changes over the years. The 2017 revision recorded a value of Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 set the value at Rs 1,700 per sq.ft, reflecting a 13% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 69%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, positioning Prasath Garden's 2024 figure below this median.

• Prithiyangara Devi Koil Street: Rs 4,400 per sq.ft (2024)
• Puducheri Road: Rs 2,200 per sq.ft (2024)
• Puducheri Road Cross Street: Rs 2,200 per sq.ft (2024)
• Ponniyamman Koil Street: Rs 2,200 per sq.ft (2024)
• Ponniyamman Koil Mayana Pathai Joint: Rs 2,200 per sq.ft (2024)
• Ponniyamman Koil Mayana Pathai Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Prasath Garden

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, resulting in a total of Rs 1,53,000. 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 Prasath Garden?

Prasath Garden falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

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

When a property is registered, the guideline value is used to calculate the fees, ensuring that the charges reflect the official value of the property as determined by the government. This helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Prasath Garden?

The current guideline value of Prasath Garden is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,700 per sq.ft in 2024, marking an overall increase of 69% across revisions.

What is the stamp duty for property in Prasath Garden?

The stamp duty for property in Prasath Garden is calculated at 7% of the guideline value. For a 1,000 sq.ft plot, the stamp duty would be Rs 1,19,000.

Which Sub Registrar Office covers Prasath Garden?

Prasath Garden is covered by the Neelankarai Sub Registrar Office, located on East Coast Road, Neelangarai, Chennai.

What is the median guideline value in Sholinganallur - 1?

The median guideline value for streets in Sholinganallur - 1 is Rs 2,200 per sq.ft, which means Prasath Garden's current value is below this median.