Guideline Value for TAMIL NADU HOUSING BOARD PRATHANA SALAI

Tamil Nadu Housing Board Prathana Salai guideline value

The current guideline value of Tamil Nadu Housing Board Prathana Salai is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in the Sholinganallur - 1 village, under the Neelankarai SRO, and is classified as Residential Class I Type - II.

How the guideline value of Tamil Nadu Housing Board Prathana Salai has changed

The guideline value for Tamil Nadu Housing Board Prathana Salai has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 2,345 per sq.ft. This increased to Rs 3,500 per sq.ft in 2023, marking a rise of 49%. The most recent revision in 2024 saw the guideline value rise to Rs 3,900 per sq.ft, reflecting an 11% increase from the previous year. Notably, there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 66%. This significant rise underscores the changing landscape of property values in the area.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the current rate for Tamil Nadu Housing Board Prathana Salai above the median.

• Tamil Nadu Housing Board: Rs 3,900 per sq.ft (2024)
• Syamala Garden: Rs 4,400 per sq.ft (2024)
• S.V.Sankar Salai (Near Canal): Rs 1,700 per sq.ft (2024)
• S.V.NATARJA NAGAR 1st STREET: Rs 3,300 per sq.ft (2024)
• S.V.Natarajan Nagar: Rs 3,900 per sq.ft (2024)
• S.V. Ekambaram Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Tamil Nadu Housing Board Prathana Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, leading to a total of Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Tamil Nadu Housing Board Prathana Salai?

The Tamil Nadu Housing Board Prathana Salai is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role during property registration in Sholinganallur - 1. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When selling property, the guideline value can influence the selling price, as it reflects the government's assessment of property values in the area. Buyers and sellers should be aware of these values to ensure compliance with registration requirements and to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value for Tamil Nadu Housing Board Prathana Salai?

The current guideline value for Tamil Nadu Housing Board Prathana Salai is Rs 3,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,900 per sq.ft in 2024, marking an overall increase of 66%.

What is the stamp duty rate for property in Tamil Nadu Housing Board Prathana Salai?

The stamp duty rate for property transactions in Tamil Nadu is 7%, which is applied to the higher of the guideline value or the sale price.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What are the other streets in Sholinganallur - 1 with their guideline values?

Other streets in Sholinganallur - 1 include Tamil Nadu Housing Board at Rs 3,900 per sq.ft, Syamala Garden at Rs 4,400 per sq.ft, and S.V.Sankar Salai (Near Canal) at Rs 1,700 per sq.ft, among others.