Guideline Value for PREM NAGAR

Prem Nagar guideline value

The current guideline value of Prem Nagar, located in Vellivalam village under the Walajabad SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Prem Nagar has changed

The guideline value for Prem Nagar has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 200 per sq.ft. In 2017, it decreased to Rs 134 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the guideline value increased by 49%, returning to Rs 200 per sq.ft. The 2023 revision maintained this value, and the latest revision in 2024 also reflects Rs 200 per sq.ft, indicating no change from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Vellivalam

In Vellivalam, five streets under the Walajabad SRO have a 2024 guideline value ranging from Rs 200 to Rs 351 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value for Prem Nagar aligns with this median.

• Pkp Garden: Rs 200 per sq.ft (2024)
• Natarajan Nagar: Rs 351 per sq.ft (2024)
• Unknown Layout With Survey No:127,128/3: Rs 200 per sq.ft (2024)
• Ishvaryam nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Prem Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Prem Nagar?

The Sub Registrar Office covering Prem Nagar is 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 Vellivalam

The guideline value is a crucial factor when buying or selling property in Vellivalam. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers should be aware of these costs to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Prem Nagar?

The current guideline value of Prem Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has varied over the years, with the most recent revisions being Rs 200 per sq.ft in 2023 and 2024. The value was previously Rs 134 per sq.ft in 2017 and Rs 200 per sq.ft in 2012.

What are the stamp duty and registration fees for property in Prem Nagar?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Prem Nagar?

The Walajabad Sub Registrar Office is responsible for handling property registrations in Prem Nagar. It is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

What is the significance of the guideline value in property transactions?

The guideline value serves as the minimum price for property registration in Vellivalam. It is essential for calculating stamp duty and registration fees during the property transaction process.