Guideline Value for PRIYANGA NAGAR

Priyanga Nagar guideline value

The current guideline value of Priyanga Nagar, located in Varadarajapuram village under the Padappai SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Priyanga Nagar has changed

Over the years, the guideline value of Priyanga Nagar has seen several revisions. The 2012 revision set the guideline value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the current 2024 revision has raised it further to Rs 1,650 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, there was a significant increase of 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is the same as the current figure for Priyanga Nagar.

• Prithiv Avenue: Rs 1,980 per sq.ft (2024)
• 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)
• 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 Priyanga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Priyanga Nagar?

The Sub Registrar Office that covers Priyanga Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an important factor in property transactions in Varadarajapuram. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers should be aware that these costs are typically based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is recorded at a fair price, which helps in maintaining transparency in real estate dealings. It is advisable for buyers and sellers to consult the latest guideline values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Priyanga Nagar?

The current guideline value of Priyanga Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Priyanga Nagar?

The land classification for Priyanga Nagar is Residential Special Type - II.

What is the stamp duty rate for property in Priyanga Nagar?

The stamp duty rate for property in Priyanga Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Priyanga Nagar?

The Sub Registrar Office for Priyanga Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.