Guideline Value for PRIYA NAGAR (SA)

Priya Nagar (Sa) guideline value

The current guideline value of Priya Nagar (Sa) in Panangottur village is Rs 440 per sq.ft, effective from 1 July 2024. This area falls 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 undergone several revisions over the years. In 2012, the value was set at Rs 400 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 268 per sq.ft, marking a decrease of 33%. Following this, the value increased significantly to Rs 400 per sq.ft in 2023, and further rose to Rs 440 per sq.ft in 2024, reflecting a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

There are no recorded figures for the years 2002, 2003, and 2007 for this street in the register. The 2017 revision saw a substantial increase of 49% from Rs 268 per sq.ft to Rs 400 per sq.ft in 2023.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, placing Priya Nagar (Sa) below this median.

• Pugazhendi Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Puranaru Street (N): Rs 1,320 per sq.ft (2024)
• Poyyamozhi Pulan Street (Per): Rs 1,320 per sq.ft (2024)
• Poultry Farm Quarters (Ward -19): Rs 440 per sq.ft (2024)
• Post Office Street (Ward -15): Rs 440 per sq.ft (2024)
• Popayar Street (Ward -7): Rs 1,320 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 guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty, charged at 7%, would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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 Panangottur

The guideline value plays a crucial role during the registration of property transactions in Panangottur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing a property. This value is essential for ensuring that the transaction is recorded accurately and complies with local regulations.

When selling property, the guideline value helps establish a baseline for the sale price, ensuring that both parties are aware of the minimum value recognized by the registration authorities. This can aid in negotiations and provide transparency in the transaction process.

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 seen various revisions, with the most recent change being an increase from Rs 400 per sq.ft in 2023 to Rs 440 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

What are the other streets in Panangottur and their guideline values?

Other streets in Panangottur include Pugazhendi Street, Puranaru Street, and Poyyamozhi Pulan Street, all valued at Rs 1,320 per sq.ft in 2024. Additionally, Poultry Farm Quarters and Post Office Street are both valued at Rs 440 per sq.ft.

What fees are associated with buying property in Priya Nagar (Sa)?

When buying property in Priya Nagar (Sa), buyers must pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

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

The Chengleput Joint II Sub Registrar Office covers Priya Nagar (Sa) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.