Guideline Value for PREAM NAGAR

Pream Nagar guideline value

The current guideline value of Pream Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Ariyanvoyal village under the Ponneri Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Pream Nagar has changed

The guideline value for Pream Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 440 per sq.ft, which reflects a 10% increase from the 2023 revision of Rs 400 per sq.ft. Prior to that, in 2017, the guideline value was Rs 268 per sq.ft, marking a significant increase of 49% to the 2023 figure. The 2012 revision also recorded a value of Rs 400 per sq.ft, which was a decrease of 33% from the 2017 figure.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ariyanvoyal

Ariyanvoyal village has 26 streets under the Ponneri SRO with a 2024 guideline value ranging from Rs 330 to Rs 880 per sq.ft. The median value for these streets is Rs 330 per sq.ft, placing Pream Nagar's 2024 figure above this median.

• Sakthivel Nagar: Rs 330 per sq.ft (2024)
• Shanmugam Nagar: Rs 440 per sq.ft (2024)
• Shanthi Nagar @ Thirupathy Nagar: Rs 330 per sq.ft (2024)
• Singaraswami Nagar: Rs 330 per sq.ft (2024)
• Meenjur Adhisayam: Rs 880 per sq.ft (2024)
• Sri Lakshmi Avenue: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Pream Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees together to Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pream Nagar?

Pream Nagar 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 Ariyanvoyal

The guideline value is a crucial factor in property transactions in Ariyanvoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty, which is charged on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pream Nagar?

The current guideline value of Pream Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2023 to Rs 440 per sq.ft in 2024. It was Rs 268 per sq.ft in 2017 and Rs 400 per sq.ft in 2012.

What is the land classification of Pream Nagar?

Pream Nagar is classified as Residential Class I Type - I under the Ponneri SRO.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is the stamp duty calculated for properties in Pream Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 440 per sq.ft, the stamp duty would be Rs 30,800.