Guideline Value for PRITHIV AVENUE

Prithiv Avenue guideline value

The current guideline value of Prithiv Avenue is Rs 1,980 per sq.ft. This street is located in Varadarajapuram village, under the Padappai SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Prithiv Avenue has changed

The guideline value for Prithiv Avenue has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, which reflects a 10% increase from the 2023 revision of Rs 1,800 per sq.ft. The register has no figure for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2023 revision, there were no recorded figures for Prithiv Avenue in the earlier years mentioned. This indicates that the current value is based on the latest assessments and reflects the current market conditions as per the 2024 revision.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with a median value of Rs 1,650 per sq.ft. Prithiv Avenue's guideline value of Rs 1,980 per sq.ft is above this median.

• Premier Garden Phase -II: Rs 2,420 per sq.ft (2024)
• Premier Garden Phase -I: Rs 2,420 per sq.ft (2024)
• Preethi Avenue: Rs 1,650 per sq.ft (2024)
• Priyanga Nagar: Rs 1,650 per sq.ft (2024)
• Purushothaman Nagar: Rs 1,320 per sq.ft (2024)
• Purushothaman Nagar Extn: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Prithiv Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total fees together to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Prithiv Avenue?

The Sub Registrar Office that covers Prithiv Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. For more information, you can find your SRO.

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

The guideline value is a critical factor when registering property transactions in Varadarajapuram. It serves as a benchmark for determining the stamp duty and registration fees payable to the government during the sale or purchase of property.

When a buyer or seller engages in a property transaction, the guideline value ensures that the transaction is recorded accurately and transparently. It helps in assessing the fair value of the property for taxation purposes, ensuring compliance with the local regulations.

Frequently asked questions

What is the current guideline value of Prithiv Avenue?

The current guideline value of Prithiv Avenue is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Prithiv Avenue was Rs 1,800 per sq.ft in 2023, reflecting a 10% increase to Rs 1,980 per sq.ft in 2024. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification for Prithiv Avenue?

The land classification for Prithiv Avenue is Residential Special Type - I, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for a property in Prithiv Avenue?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200. The duty is charged on the higher of the guideline value and the sale price.

Where is the Sub Registrar Office for Prithiv Avenue located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone, which covers Prithiv Avenue.