Guideline Value for PRITHIVI AVENUE

Prithivi Avenue guideline value

The current guideline value of Prithivi Avenue is Rs 17,600 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Special Type - III.

How the guideline value of Prithivi Avenue has changed

The guideline value for Prithivi Avenue has undergone several revisions over the years. In 2002, the value was Rs 2,782 per sq.ft, which increased to Rs 3,090 per sq.ft in 2003, marking an increase of 11%. The following significant jump occurred in 2012, where the value remained at Rs 16,000 per sq.ft, a remarkable increase of 418% from the 2003 figure. The value did not change again until 2023, where it still stood at Rs 16,000 per sq.ft.

The most recent revision in 2024 saw the guideline value rise to Rs 17,600 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 533%, showcasing significant growth over the years.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Prithivi Avenue's 2024 figure above this median.

• Pro Quarters: Rs 7,100 per sq.ft (2024)
• P.S.Sivasami Salai (C.I.T. 1st Cross Street To North End Of The Road): Rs 17,600 per sq.ft (2024)
• Ps Sivasamy Iyer 1st Lane: Rs 13,200 per sq.ft (2024)
• Ps Sivasamy Iyer 1st Street: Rs 13,200 per sq.ft (2024)
• Ps Sivasamy Iyer 2nd Lane: Rs 13,200 per sq.ft (2024)
• Ps. Sivasamy Iyer Street (From R.H. Road To Cit Colony 1st Cross Street): Rs 22,000 per sq.ft (2024)

Stamp duty and registration fee for property in Prithivi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 17,600 per sq.ft, the total guideline value amounts to Rs 1,76,00,000. The stamp duty at 7% would be Rs 12,32,000, and the registration fee at 2% would be Rs 3,52,000, bringing the total to Rs 15,84,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Prithivi Avenue?

The Sub Registrar Office that covers Prithivi Avenue is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value according to the local real estate market.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are essential components of the transaction. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the property transaction.

Frequently asked questions

What is the current guideline value of Prithivi Avenue?

The current guideline value of Prithivi Avenue is Rs 17,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 2,782 per sq.ft to Rs 17,600 per sq.ft in 2024, marking a total increase of 533% over this period.

What is the land classification for Prithivi Avenue?

Prithivi Avenue is classified as Residential Special Type - III under the local land classification system.

Where can I find the Sub Registrar Office for Prithivi Avenue?

The Sub Registrar Office covering Prithivi Avenue is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is stamp duty calculated for properties in Mylapore?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,76,00,000, the stamp duty at 7% would amount to Rs 12,32,000.