Guideline Value for PRANAV ORCHID

Pranav Orchid guideline value

The current guideline value of Pranav Orchid is Rs 500 per sq.ft, effective from 1 July 2024. This property is located in Venpakkam village under the Walajabad Sub Registrar Office and is classified as Residential Special Type - III.

How the guideline value of Pranav Orchid has changed

Over the years, the guideline value for Pranav Orchid has experienced several revisions. The most recent revision in 2024 maintains the guideline value at Rs 500 per sq.ft, which is consistent with the 2023 revision. In 2017, the guideline value was Rs 335 per sq.ft, reflecting a significant increase of 49% from that year to 2023. The 2012 revision also set the guideline value at Rs 500 per sq.ft, indicating a decrease of 33% from the 2017 figure.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 500 per sq.ft.

Guideline values in Venpakkam

In addition to Pranav Orchid, other streets in Venpakkam under the Walajabad SRO have the same guideline value of Rs 500 per sq.ft. Below are the other streets in Venpakkam:

• Sai Lakshmi Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Pranav Orchid

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty, charged at 7%, would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Pranav Orchid?

The Pranav Orchid property falls under the jurisdiction of the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Venpakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pranav Orchid?

The current guideline value of Pranav Orchid is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent being Rs 500 per sq.ft in both 2023 and 2024. The value was Rs 335 per sq.ft in 2017 and Rs 500 per sq.ft in 2012.

What is the stamp duty for properties in Pranav Orchid?

The stamp duty for properties in Pranav Orchid is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Walajabad Sub Registrar Office located?

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

What is the land classification of Pranav Orchid?

Pranav Orchid is classified as Residential Special Type - III, indicating its purpose and zoning within the area.