Guideline Value for PREM NAGAR

Prem Nagar guideline value

The current guideline value of Prem Nagar, located in Edayanchavadi village under the Thiruvottiyur SRO, is Rs 1,001 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 figure is from the 2017 revision, which was Rs 335 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in the 2023 revision, marking a 199% rise. The latest revision in 2024 shows a slight increase to Rs 1,001 per sq.ft, which represents no percentage change from the previous year.

Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. Overall, from 2017 to 2024, the guideline value has increased by 199%.

Guideline values in Edayanchavadi

In Edayanchavadi, there are 23 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,100 per sq.ft, with the median being Rs 1,001 per sq.ft. Prem Nagar's 2024 figure aligns with this median.

• Ponneri High Road: Rs 1,002 per sq.ft (2024)
• Rajarajeswari Nagar: Rs 1,001 per sq.ft (2024)
• Perumal Koil Street: Rs 1,001 per sq.ft (2024)
• Sangeetha Nagar: Rs 1,001 per sq.ft (2024)
• M.R.F. Nagar: Rs 1,001 per sq.ft (2024)
• Moideen Nagar: Rs 1,001 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 1,001 per sq.ft, the total guideline value amounts to Rs 10,01,000. The stamp duty at 7% would be Rs 70,070, and the registration fee at 2% would be Rs 20,020, bringing the total to Rs 90,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Prem Nagar?

The Sub Registrar Office that covers Prem Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Edayanchavadi. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay the stamp duty based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Prem Nagar?

The current guideline value of Prem Nagar is Rs 1,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 1,001 per sq.ft in 2024, marking a total increase of 199% over this period.

Are there any years with no recorded guideline value for Prem Nagar?

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

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

For a property valued at Rs 10,01,000, the stamp duty would be Rs 70,070, and the registration fee would be Rs 20,020, totaling Rs 90,090.

Which office handles the registration for Prem Nagar?

The Thiruvottiyur Sub Registrar Office handles the registration for Prem Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.