Guideline Value for PRIYA NAGAR (SA)

Priya Nagar (Sa) guideline value

The current guideline value of Priya Nagar (Sa) is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Ninna Karai village, under the Chengleput Joint II SRO, and is classified as Residential Class II Type - II.

How the guideline value of Priya Nagar (Sa) has changed

The guideline value for Priya Nagar (Sa) has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 400 per sq.ft. In 2017, this value decreased to Rs 268 per sq.ft, marking a decline of 33%. However, by 2023, the guideline value rose to Rs 400 per sq.ft, and in the latest revision for 2024, it increased further to Rs 440 per sq.ft, reflecting a 10% rise from the previous year.

In summary, from 2017 to 2023, there was a significant increase of 49%, and overall, from 2012 to 2024, the guideline value increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values in 2024 ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Priya Nagar (Sa) below this median value.

• Pugazhendi Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Puranaru Street (N): Rs 1,321 per sq.ft (2024)
• Poyyamozhi Pulan Street (Per): Rs 1,321 per sq.ft (2024)
• Poultry Farm Quarters (Ward -19): Rs 440 per sq.ft (2024)
• Post Office Street (Ward -15): Rs 660 per sq.ft (2024)
• Popayar Street (Ward -7): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Priya Nagar (Sa)

For a 1,000 sq.ft plot at the current rate of Rs 440 per sq.ft, the guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, making the total Rs 39,600. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Priya Nagar (Sa)?

The Sub Registrar Office that covers Priya Nagar (Sa) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ninna Karai. It serves as the basis for calculating stamp duty and registration fees, which are mandatory at the time of property registration.

When a property is registered, the guideline value is considered to ensure that the appropriate taxes are collected. Buyers and sellers should be aware that the higher of the guideline value or the actual sale price will be used to calculate these fees.

Frequently asked questions

What is the current guideline value of Priya Nagar (Sa)?

The current guideline value of Priya Nagar (Sa) is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification for Priya Nagar (Sa)?

Priya Nagar (Sa) is classified as Residential Class II Type - II, indicating its use for residential purposes.

Where can I find the Sub Registrar Office for Priya Nagar (Sa)?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles registrations for Priya Nagar (Sa).

How is stamp duty calculated in Priya Nagar (Sa)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 at 7%.