Guideline Value for South Pragaram Street

South Pragaram Street guideline value

The current guideline value of South Pragaram Street is Rs 1,001 per sq.ft, effective from 1 July 2024. This street is located in Kathivakkam village under the Thiruvottiyur SRO, classified as Residential Class I Type - I.

How the guideline value of South Pragaram Street has changed

The guideline value for South Pragaram Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 300 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2012, marking a rise of 167%. However, in the following revision in 2017, the value dropped to Rs 536 per sq.ft, a decrease of 33%. The 2023 revision set the value at Rs 1,000 per sq.ft, which remained unchanged in the 2024 revision at Rs 1,001 per sq.ft.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 234%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kathivakkam

In Kathivakkam, there are 47 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,600 per sq.ft, with a median value of Rs 1,001 per sq.ft. South Pragaram Street's 2024 figure aligns with this median.

• South Lock Road: Rs 1,000 per sq.ft (2024)
• Sivanapadai Veethi: Rs 1,100 per sq.ft (2024)
• Sri Ram Koil Street: Rs 1,000 per sq.ft (2024)
• Selvamani Nagar: Rs 1,001 per sq.ft (2024)
• Sathya Nagar: Rs 1,100 per sq.ft (2024)
• Sastri Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in South Pragaram Street

For a 1,000 sq.ft plot at the current rate of Rs 1,001 per sq.ft, the guideline value would be Rs 10,01,000. The stamp duty at 7% would amount to Rs 70,070, and the registration fee at 2% would be Rs 20,020, totaling Rs 90,090. It is essential to note that 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 South Pragaram Street?

The Sub Registrar Office that covers South Pragaram Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Kathivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenues from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory payments that must be made to complete the registration process. Buyers should be aware of these costs to budget accordingly.

Frequently asked questions

What is the current guideline value of South Pragaram Street?

The current guideline value of South Pragaram Street is Rs 1,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,001 per sq.ft in 2024, marking an overall increase of 234% over the years.

What is the stamp duty rate for properties in South Pragaram Street?

The stamp duty rate for properties in South Pragaram Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for South Pragaram Street?

The Sub Registrar Office for South Pragaram Street is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the median guideline value for streets in Kathivakkam?

The median guideline value for streets in Kathivakkam is Rs 1,001 per sq.ft, with values ranging from Rs 1,000 to Rs 1,600 per sq.ft.