Guideline Value for SRI PRASANNA NAGAR

Sri Prasanna Nagar guideline value

The current guideline value for Sri Prasanna Nagar in Thimmaiyanpettai village is Rs 220 per sq.ft, effective from 1 July 2024. This area falls under the Walajabad SRO and is classified as Residential Class II Type - I.

How the guideline value of Sri Prasanna Nagar has changed

In the 2023 revision, the guideline value for Sri Prasanna Nagar was Rs 200 per sq.ft. This marked an increase from previous revisions, but the register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street. The most recent revision in 2024 reflects a change of +10% from the 2023 figure, bringing the current guideline value to Rs 220 per sq.ft.

It is important to note that the guideline value for Sri Prasanna Nagar has seen a steady increase in recent years, with the 2023 to 2024 revision showing a clear upward trend. However, without figures for earlier revisions, it is challenging to determine the complete history of changes for this specific street.

Guideline values in Thimmaiyanpettai

In Thimmaiyanpettai, there are four streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 330 per sq.ft. The median guideline value for these streets is Rs 248 per sq.ft, placing Sri Prasanna Nagar below this median value.

• Vishwa Nagar: Rs 330 per sq.ft (2024)
• Anna Nagar: Rs 220 per sq.ft (2024)
• Annai Nagar: Rs 275 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Prasanna Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value would be Rs 2,20,000. The stamp duty at 7% would amount to Rs 15,400, while the registration fee at 2% would be Rs 4,400. Together, the total cost for these fees would be Rs 19,800. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Prasanna Nagar?

The registration office covering Sri Prasanna Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value serves as a reference point for property transactions in Thimmaiyanpettai. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved.

During the registration process, the guideline value is essential for calculating the stamp duty, which is charged at a specified percentage of the guideline value or the sale price, whichever is higher. This ensures compliance with local regulations and helps in the proper documentation of property transactions.

Frequently asked questions

What is the current guideline value of Sri Prasanna Nagar?

The current guideline value of Sri Prasanna Nagar is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed in recent years?

The guideline value increased from Rs 200 per sq.ft in 2023 to Rs 220 per sq.ft in 2024, reflecting a 10% increase.

What are the other streets in Thimmaiyanpettai?

Other streets in Thimmaiyanpettai include Vishwa Nagar, Anna Nagar, and Annai Nagar, with guideline values ranging from Rs 220 to Rs 330 per sq.ft.

Where is the Walajabad Sub Registrar Office located?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, in the Chengalpattu registration zone.

How is stamp duty calculated in Sri Prasanna Nagar?

Stamp duty in Sri Prasanna Nagar is calculated at 7% of the higher value between the guideline value and the sale price. Registration fees are charged at 2% of the guideline value.