Guideline Value for SRI PRASAD NAGAR

Sri Prasad Nagar guideline value

The current guideline value of Sri Prasad Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Kalpakkam village and falls under the Ponneri SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Sri Prasad Nagar has changed

Over the years, the guideline value of Sri Prasad Nagar has seen several revisions. The 2012 revision set the value at Rs 100 per sq.ft, which remained unchanged in the 2017 revision. However, in 2017, the value was adjusted to Rs 67 per sq.ft, marking a decrease of 33%. The 2023 revision brought the value back to Rs 100 per sq.ft, and the 2024 revision maintained this rate, showing no change from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 100 per sq.ft. Overall, from 2012 to 2024, the guideline value has remained the same, with no increase or decrease. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kalpakkam

In Kalpakkam, there are 21 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 100 per sq.ft, with a median value of Rs 100 per sq.ft. The guideline value of Sri Prasad Nagar is equal to this median.

• Sri Bala Jothimurugan Manaipiriuv: Rs 100 per sq.ft (2024)
• Smr Roziya Garden: Rs 100 per sq.ft (2024)
• Thendral Nagar: Rs 100 per sq.ft (2024)
• Shakthi Sai Avenue: Rs 100 per sq.ft (2024)
• Selva Vinayagar Nagar: Rs 100 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Prasad Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total to Rs 9,000. It is important to note that the 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 further assistance.

Which Sub Registrar Office covers Sri Prasad Nagar?

The Sub Registrar Office that covers Sri Prasad Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kalpakkam, as it determines the minimum value at which a property can be registered. Buyers must be aware that the stamp duty and registration fees are calculated based on this guideline value or the sale price, whichever is higher, ensuring that the transaction is legally compliant.

When registering a property, it is essential to consult the guideline value to understand the financial implications of the transaction. This value serves as a benchmark for both buyers and sellers, ensuring transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Sri Prasad Nagar?

The current guideline value of Sri Prasad Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent revision in 2024 maintaining it at Rs 100 per sq.ft. The value was Rs 67 per sq.ft in 2017 and was increased to Rs 100 per sq.ft in 2023.

What is the land classification for Sri Prasad Nagar?

Sri Prasad Nagar is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in Sri Prasad Nagar?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total fee of Rs 9,000.

Where is the Sub Registrar Office for Sri Prasad Nagar located?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204, and it covers the registration for Sri Prasad Nagar.