Guideline Value for PRIMIER RESIDENCY

Primier Residency guideline value

The current guideline value of Primier Residency is Rs 2,140 per sq.ft, effective from 1 July 2024. This property is located in Manimangalam A village under the Padappai SRO, classified as Mixed Type - II land.

How the guideline value of Primier Residency has changed

The guideline value for Primier Residency has seen significant changes over the years. The 2017 revision set the value at Rs 1,300 per sq.ft, which increased to Rs 1,941 per sq.ft in the 2023 revision, marking a 49% rise. The current 2024 revision has further increased the value to Rs 2,140 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 65%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft, with a median value of Rs 880 per sq.ft. Primier Residency's current guideline value is above this median.

• Rajaji Street: Rs 880 per sq.ft (2024)
• Periyar Street: Rs 880 per sq.ft (2024)
• Pattabi Nagar: Rs 1,430 per sq.ft (2024)
• Palayathamman Nagar: Rs 770 per sq.ft (2024)
• Palayakkara Street: Rs 880 per sq.ft (2024)
• Royal Avenue: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Primier Residency

For a 1,000 sq.ft plot at the current guideline value of Rs 2,140 per sq.ft, the total guideline value amounts to Rs 21,40,000. The stamp duty at 7% would be Rs 1,49,800, and the registration fee at 2% would be Rs 42,800, bringing the total cost for these fees to Rs 1,92,600. 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 Primier Residency?

The Sub Registrar Office that covers Primier Residency is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Manimangalam A, as it determines the stamp duty and registration fees applicable during the transaction. Buyers and sellers must refer to the current guideline value to ensure compliance with local regulations and to calculate the associated costs accurately.

When registering a property, the guideline value is used to assess the fees that need to be paid. It serves as a benchmark for property transactions, ensuring that both parties are aware of the financial obligations involved in the sale or purchase.

Frequently asked questions

What is the current guideline value of Primier Residency?

The current guideline value of Primier Residency is Rs 2,140 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,300 per sq.ft to Rs 2,140 per sq.ft in 2024, marking an overall increase of 65%.

What are the stamp duty and registration fees for Primier Residency?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 1,49,800, and the registration fee is Rs 42,800, totaling Rs 1,92,600.

Which Sub Registrar Office is responsible for Primier Residency?

The Padappai Sub Registrar Office is responsible for Primier Residency, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Primier Residency?

The land classification for Primier Residency is Mixed Type - II, indicating the type of development and usage permitted in the area.