Guideline Value for Sri Prasanna Vinayagar Nagar

Sri Prasanna Vinayagar Nagar guideline value

The current guideline value of Sri Prasanna Vinayagar Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Vellavedu village and falls under the Poonamallee SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Sri Prasanna Vinayagar Nagar has changed

The guideline value for Sri Prasanna Vinayagar Nagar has undergone several revisions over the years. The earliest recorded revision is from 2012, which set the value at Rs 500 per sq.ft. This was followed by a decrease to Rs 335 per sq.ft in 2017. In 2023, the value increased to Rs 500 per sq.ft, and the most recent revision in 2024 raised it further to Rs 550 per sq.ft, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, the guideline value saw a significant increase of 49%. However, from 2012 to 2017, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vellavedu

In Vellavedu, there are 11 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,475 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, placing Sri Prasanna Vinayagar Nagar's 2024 figure below that median.

• Sri Prasanna Vinayakar Nagar: Rs 550 per sq.ft (2024)
• Sree Vaari Garden Phase - II: Rs 1,700 per sq.ft (2024)
• Shree Vaari Garden Phase-I: Rs 1,500 per sq.ft (2024)
• V.P.K Nagar: Rs 1,320 per sq.ft (2024)
• N.S.R Street: Rs 825 per sq.ft (2024)
• New Metro Nagar: Rs 1,660 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Prasanna Vinayagar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Prasanna Vinayagar Nagar?

The Sub Registrar Office that covers Sri Prasanna Vinayagar Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of properties in Vellavedu. It is the benchmark used to calculate the stamp duty and registration fees, ensuring that these are based on a standardized value rather than the negotiated sale price.

When buying or selling property, it is essential to be aware of the guideline value as it directly affects the financial obligations involved in the transaction. Buyers should ensure that they understand how the guideline value impacts their overall costs during the registration process.

Frequently asked questions

What is the current guideline value of Sri Prasanna Vinayagar Nagar?

The current guideline value of Sri Prasanna Vinayagar Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then back to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Sri Prasanna Vinayagar Nagar?

Sri Prasanna Vinayagar Nagar is classified as Residential Class I Type - I.

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

The Sub Registrar Office for Sri Prasanna Vinayagar Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is the stamp duty calculated for properties in Sri Prasanna Vinayagar Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current guideline value, the stamp duty would be Rs 38,500.