Guideline Value for PRIORITY GARDEN

Priority Garden guideline value

The current guideline value of Priority Garden, located in Mathuranthagam village, is Rs 1,110 per sq.ft. This value is set by the Madurandakam SRO and falls under the Residential Special Type - I land classification. This guideline value is effective from 1 July 2024.

How the guideline value of Priority Garden has changed

Looking back at the revisions, the guideline value for Priority Garden was Rs 1,000 per sq.ft in 2023, which marked an increase from Rs 670 per sq.ft in 2017. The 2012 revision also set the value at Rs 1,000 per sq.ft, showing a decrease from the previous figure in 2017. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2024, the overall change in the guideline value is an increase of 11%. Specifically, the change from 2023 to 2024 is an increase of 11%, while the period from 2017 to 2023 saw a significant increase of 49%. The fluctuations in these values reflect the adjustments made over the years.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,480 per sq.ft. The median value among these streets is Rs 1,100 per sq.ft, which means that Priority Garden's 2024 figure of Rs 1,110 per sq.ft is above this median.

• Rajagopal Mudali Street: Rs 1,110 per sq.ft (2024)
• PERUMAL KOIL STREET (a) SANNADHI STREET: Rs 1,100 per sq.ft (2024)
• Periya Colony North Street: Rs 660 per sq.ft (2024)
• Periya Colony Mariamman Koil Street: Rs 660 per sq.ft (2024)
• Periya Colony Madha Koil Street: Rs 660 per sq.ft (2024)
• Ramachandra Nagar: Rs 775 per sq.ft (2024)

Stamp duty and registration fee for property in Priority Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value would be Rs 11,10,000. The stamp duty at 7% would amount to Rs 77,700, while the registration fee at 2% would be Rs 22,200, leading to a total of Rs 99,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Priority Garden?

The Sub Registrar Office that covers Priority Garden is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. For more information, you can find your SRO.

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

When buying or selling property in Mathuranthagam, the guideline value plays a crucial role in determining the stamp duty and registration fees. This value is used as a reference point to assess the property’s worth and ensures that the transaction adheres to the regulations set by the local authorities.

At the time of registration, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This process helps in maintaining transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Priority Garden?

The current guideline value of Priority Garden is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase being from Rs 1,000 per sq.ft in 2023 to Rs 1,110 per sq.ft in 2024, marking an 11% increase.

What is the land classification for Priority Garden?

Priority Garden falls under the Residential Special Type - I land classification as per the guidelines set by the Madurandakam SRO.

What are the stamp duty and registration fees for a property in Priority Garden?

For a property valued at the current guideline value, the stamp duty would be 7% and the registration fee would be 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 99,900.

Which office handles registrations for properties in Mathuranthagam?

The Madurandakam Sub Registrar Office is responsible for handling registrations for properties in Mathuranthagam, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.