Guideline Value for PRIME GARDENS

Prime Gardens guideline value

The current guideline value of Prime Gardens in Parivakkam village, under the Poonamallee SRO, is Rs 1,440 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Residential Class III Type - II.

How the guideline value of Prime Gardens has changed

The guideline value for Prime Gardens has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 1,440 per sq.ft, which is an increase of 10% from the 2023 revision, where the value was Rs 1,310 per sq.ft. Prior to 2023, there are no figures available for the years 2017, 2012, 2007, 2003, and 2002 in the register for this street.

In summary, the guideline values for the available years are as follows: Rs 1,310 per sq.ft in 2023 and Rs 1,440 per sq.ft in 2024. The absence of figures for earlier years indicates that there has been no recorded guideline value for Prime Gardens in those revisions.

Guideline values in Parivakkam

In Parivakkam, there are 31 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 6,750 per sq.ft, with a median value of Rs 1,800 per sq.ft. The guideline value for Prime Gardens is below this median.

• Pav Green Field: Rs 3,000 per sq.ft (2024)
• Romaa Majestic: Rs 2,350 per sq.ft (2024)
• Oom Sundaram Nagar: Rs 1,550 per sq.ft (2024)
• Om Sakthi Nagar: Rs 660 per sq.ft (2024)
• Sairam City: Rs 990 per sq.ft (2024)
• Newry Clovery County: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Prime Gardens

For a 1,000 sq.ft plot in Prime Gardens at the current guideline value of Rs 1,440 per sq.ft, the total guideline value amounts to Rs 14,40,000. The stamp duty, charged at 7%, would be Rs 1,00,800, while the registration fee at 2% would be Rs 28,800. Therefore, the total cost for stamp duty and registration would be Rs 1,29,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Prime Gardens?

The Sub Registrar Office that covers Prime Gardens is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for further assistance.

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

When buying or selling property in Parivakkam, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the applicable stamp duty and registration fees, which are calculated based on the higher value between the guideline value and the sale price.

It is essential for buyers and sellers to be aware of the guideline value, as it can significantly impact the overall costs involved in property transactions. Understanding these values helps in ensuring compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Prime Gardens?

The current guideline value of Prime Gardens is Rs 1,440 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Prime Gardens has changed from Rs 1,310 per sq.ft in 2023 to Rs 1,440 per sq.ft in 2024, reflecting a 10% increase. There are no recorded figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the classification of land in Prime Gardens?

Prime Gardens is classified as Residential Class III Type - II. This classification is important for understanding the potential uses and regulations applicable to the property.

What are the stamp duty and registration fees for property in Prime Gardens?

The stamp duty for a property valued at Rs 14,40,000 in Prime Gardens would be Rs 1,00,800, while the registration fee would be Rs 28,800. Together, these fees would amount to Rs 1,29,600.

Where can I find the Sub Registrar Office for Prime Gardens?

The Poonamallee Sub Registrar Office covers Prime Gardens, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for further assistance.