Guideline Value for PRIDE

Pride guideline value

The current guideline value of Pride, located in Sattamangalam village under the Chengleput Joint II SRO, is Rs 550 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Pride has changed

The guideline value for Pride has undergone several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in the 2017 revision. Following this, the value increased to Rs 500 per sq.ft in the 2023 revision, and the current value as of the 2024 revision is Rs 550 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it saw a significant increase of 49%. The change from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Sattamangalam

In Sattamangalam village, there are 425 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Pride's 2024 figure below that median.

• Priya Nagar (Sa): Rs 660 per sq.ft (2024)
• Poyyamozhi Pulan Street (Per): Rs 1,320 per sq.ft (2024)
• Poultry Farm Quarters (Ward -19): Rs 440 per sq.ft (2024)
• Post Office Street (Ward -15): Rs 440 per sq.ft (2024)
• Popayar Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Poongundranar Street (Ward -7): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Pride

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total cost for these fees to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pride?

The Sub Registrar Office that covers Pride is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value serves as a reference point for property transactions in Sattamangalam. It is used to calculate the stamp duty and registration fees that need to be paid during the registration process.

When buying or selling property, the guideline value can affect the overall cost of the transaction. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and to accurately assess the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Pride?

The current guideline value of Pride is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then up to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What are the other streets in Sattamangalam and their guideline values?

Other streets in Sattamangalam include Priya Nagar (Sa) at Rs 660 per sq.ft, Poyyamozhi Pulan Street (Per) at Rs 1,320 per sq.ft, and Poultry Farm Quarters (Ward -19) at Rs 440 per sq.ft, among others.

How is stamp duty calculated for property in Pride?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 38,500.

Where can I find the Sub Registrar Office for Pride?

The Sub Registrar Office for Pride is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.