Guideline Value for Prashanthi Colony 4th Main Road

Prashanthi Colony 4th Main Road guideline value

The current guideline value of Prashanthi Colony 4th Main Road is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Prashanthi Colony 4th Main Road has changed

The guideline value for Prashanthi Colony 4th Main Road has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was set at Rs 2,200 per sq.ft. In 2017, this value decreased to Rs 1,474 per sq.ft, marking a decline of 33%. However, the most recent revision in 2024 saw a significant increase to Rs 2,400 per sq.ft, which is a rise of 63% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 9%.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2023 for this street. The 2024 revision has brought the guideline value in line with the median value of Rs 2,400 per sq.ft for other streets in Madambakkam under the Selaiyur SRO.

Guideline values in Madambakkam

In Madambakkam village, there are a total of 1,151 streets that have a guideline value for 2024, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, which is the same as the current value for Prashanthi Colony 4th Main Road. Below are other streets in Madambakkam with their respective guideline values:

• Prashanthi Colony 4th Cross Street: Rs 2,400 per sq.ft (2024)
• Prashanthi Colony 3rd Main Road: Rs 2,400 per sq.ft (2024)
• Prasanthi Nagar-Prathana Road: Rs 2,400 per sq.ft (2024)
• Prashanthi Colony Main Road: Rs 2,400 per sq.ft (2024)
• Prashanthi Colony 4th Street: Rs 2,400 per sq.ft (2024)
• Prashanthi Colony 3rd Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Prashanthi Colony 4th Main Road

For a property measuring 1,000 sq.ft at the current guideline value, the total guideline value would be Rs 24,00,000. The stamp duty is charged at 7%, amounting to Rs 1,68,000, while the registration fee is 2%, which comes to Rs 48,000. Therefore, the total cost for stamp duty and registration fee would be Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Prashanthi Colony 4th Main Road?

The Sub Registrar Office that covers Prashanthi Colony 4th Main Road is the Selaiyur Sub Registrar Office. The address is 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 more details.

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

The guideline value is a crucial factor when registering property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is bought or sold, the guideline value helps in assessing the transaction's legitimacy and ensures that the government receives the appropriate taxes. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of Prashanthi Colony 4th Main Road?

The current guideline value of Prashanthi Colony 4th 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, and then to Rs 2,400 per sq.ft in 2024. This represents a decrease of 33% from 2012 to 2017, followed by a 63% increase from 2017 to 2024.

Which Sub Registrar Office is responsible for Prashanthi Colony 4th Main Road?

The Selaiyur Sub Registrar Office is responsible for Prashanthi Colony 4th Main Road, located at No.36, Bharathmatha Salai, East Tambaram, Selaiyur, Chennai - 600 073.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 24,00,000, the total stamp duty and registration fee would be Rs 2,16,000.

Are there any years without recorded guideline values for this street?

Yes, there are no recorded guideline values for the years 2002, 2003, 2007, and 2023 for Prashanthi Colony 4th Main Road.