Guideline Value for PRAVEEN NAGAR

Praveen Nagar guideline value

The current guideline value of Praveen Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Guduvancheri village, under the Ponneri Sub Registrar Office (SRO), and is classified as Residential Class II Type - I.

How the guideline value of Praveen Nagar has changed

In the 2017 revision, the guideline value was set at Rs 67 per sq.ft. This figure increased to Rs 100 per sq.ft in the 2023 revision, marking a 49% rise. The current 2024 revision also maintains this value at Rs 100 per sq.ft, showing no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, there has been a 49% increase in the guideline value of Praveen Nagar. The consistency in the 2023 and 2024 revisions indicates stability in the guideline value during this period.

Guideline values in Guduvancheri

In Guduvancheri, there are 9 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 450 per sq.ft. The median guideline value for these streets is Rs 100 per sq.ft, which is equal to the current value of Praveen Nagar.

• New Sun City: Rs 100 per sq.ft (2024)
• Saribha Nagar: Rs 100 per sq.ft (2024)
• Sri Kari Krishna Perumal Nagar: Rs 100 per sq.ft (2024)
• Srinivasa Garden: Rs 100 per sq.ft (2024)
• Sri Sai Garden: Rs 100 per sq.ft (2024)
• Sri Sakthi Sai Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Praveen Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. It's 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 details.

Which Sub Registrar Office covers Praveen Nagar?

The Praveen Nagar area falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Guduvancheri, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

At the time of registration, 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 the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Praveen Nagar?

The current guideline value of Praveen Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased by 49%, from Rs 67 per sq.ft to Rs 100 per sq.ft in 2024.

Are there any years without a guideline value for Praveen Nagar?

Yes, the register has no figures for the years 2002, 2003, 2007, and 2012 for Praveen Nagar.

What is the registration office for Praveen Nagar?

The registration office for Praveen Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for properties in Praveen Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000.