Guideline Value for PRIYA NAGAR EXTEN

Priya Nagar Exten guideline value

The current guideline value of Priya Nagar Exten is Rs 800 per sq.ft, effective from 1 July 2024. This location falls under Athur B Block village, governed by the Chengleput Joint II SRO, and is classified as Mixed Special Type - I land.

How the guideline value of Priya Nagar Exten has changed

Over the years, the guideline value of Priya Nagar Exten has seen several revisions. The 2012 revision set the value at Rs 800 per sq.ft, which remained unchanged until the 2023 revision. In 2017, the value had decreased to Rs 536 per sq.ft, marking a 33% drop from the previous figure. The 2023 revision brought the value back to Rs 800 per sq.ft, maintaining this rate into the 2024 revision, which also holds at Rs 800 per sq.ft, showing no change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has remained constant, with no change noted.

Guideline values in Athur B Block

Athur B Block has 79 streets under the Chengleput Joint II SRO, with 2024 guideline values ranging from Rs 268 to Rs 1,525 per sq.ft. The median value for these streets is Rs 700 per sq.ft, placing Priya Nagar Exten's 2024 guideline value above this median.

• Priya Nagar: Rs 800 per sq.ft (2024)
• Radha Nagar: Rs 500 per sq.ft (2024)
• Rathinam Nagar: Rs 500 per sq.ft (2024)
• Palar Nagar: Rs 800 per sq.ft (2024)
• R R Nagar: Rs 1,000 per sq.ft (2024)
• Nisha Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Priya Nagar Exten

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty is calculated at 7%, resulting in Rs 56,000, while the registration fee is 2%, which totals Rs 16,000. Therefore, the combined cost for these fees would be Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Priya Nagar Exten?

The Chengleput Joint II Sub Registrar Office covers Priya Nagar Exten, 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 Athur B Block

The guideline value plays a crucial role in property transactions in Athur B Block, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the sale price meets or exceeds the guideline value to avoid any issues during the registration process. This ensures compliance with local regulations and helps in the accurate assessment of taxes and fees associated with the transaction.

Frequently asked questions

What is the current guideline value of Priya Nagar Exten?

The current guideline value of Priya Nagar Exten is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 800 per sq.ft since 2012, with a decrease to Rs 536 per sq.ft in 2017, followed by a return to Rs 800 per sq.ft in 2023 and 2024.

What is the land classification of Priya Nagar Exten?

Priya Nagar Exten is classified as Mixed Special Type - I land, indicating its diverse usage potential.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same. For example, for a property valued at Rs 8,00,000, the total fees would amount to Rs 72,000.