Guideline Value

Corporate

Guideline Value for Prashanthi Colony 3rd Main Road

₹2400/sq.ft.

The guideline value for Prashanthi Colony 3rd Main Road in Madambakkam village (Selaiyur SRO, Chengalpattu zone) is Rs 2400 per sq.ft, effective 1 July 2024. The land classification is Commercial Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chengalpattu

Zone

Madambakkam

Village

Selaiyur

SRO

Commercial Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹2400 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹1474 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2200 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.36,bharathmatha Salai(opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur,chennai - 600 073.
044-22391102
[email protected]

DRO (District Registrar Office)

Tambaram District Registrar Office,no.47/8,venkatesan Street,tambaram (west),chennai- 600 045.
null
[email protected], [email protected]

DIG (Deputy Inspector General)

No 10., Kancheepuram High Road., Chenglepet
null
[email protected]
Records for a plot on Prashanthi Colony 3rd Main Road

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Prashanthi Colony 3rd Main Road guideline value

The current guideline value of Prashanthi Colony 3rd Main Road is Rs 2,400 per sq.ft, effective from 1 July 2024. This road is located in Madambakkam village under the Selaiyur SRO, classified as Commercial Class I Type - II.

How the guideline value of Prashanthi Colony 3rd Main Road has changed

In the 2012 revision, the guideline value was set at Rs 2,200 per sq.ft. This figure decreased to Rs 1,474 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the value increased significantly to Rs 2,400 per sq.ft, reflecting a rise of 63% over this period. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 9%.

The register does not have figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value is Rs 2,400 per sq.ft, which is equal to the current guideline value of Prashanthi Colony 3rd Main Road.

Stamp duty and registration fee for property in Prashanthi Colony 3rd Main Road

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, totaling Rs 2,16,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Prashanthi Colony 3rd Main Road?

The Sub Registrar Office covering Prashanthi Colony 3rd Main Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is essential for determining the stamp duty and registration fees when buying or selling property in Madambakkam. It serves as a benchmark value for transactions, ensuring that the government receives appropriate revenue from property sales.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, making it crucial for buyers and sellers to be aware of the current guideline value.

Frequently asked questions

What is the current guideline value of Prashanthi Colony 3rd Main Road?

The current guideline value of Prashanthi Colony 3rd Main Road is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,400 per sq.ft in 2024. This represents a decline from 2012 to 2017 and a significant rise from 2017 to 2024.

What is the land classification of Prashanthi Colony 3rd Main Road?

Prashanthi Colony 3rd Main Road is classified as Commercial Class I Type - II.

Where can I find the Sub Registrar Office for this area?

The Selaiyur Sub Registrar Office, which covers Prashanthi Colony 3rd Main Road, is located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 at 7%.