Guideline Value for Pranav Orchid

Pranav Orchid guideline value

The current guideline value of Pranav Orchid is Rs 600 per sq.ft, effective from 1 July 2024. This property is located in Salamangalam village, under the Sriperumpudur SRO, classified as Mixed Type - I land.

How the guideline value of Pranav Orchid has changed

Over the years, the guideline value for Pranav Orchid has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2024 revision. In contrast, the 2017 revision recorded a significant increase to Rs 402 per sq.ft, marking a 49% rise from the previous figure. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it increased by 49%, and the value has remained consistent at Rs 600 per sq.ft from 2023 to 2024, resulting in an overall change of 0% from 2012 to 2024.

Guideline values in Salamangalam

In Salamangalam, there are 59 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 3,100 per sq.ft, with a median value of Rs 500 per sq.ft. Pranav Orchid's 2024 guideline value is above this median.

• Ramakrishna Nagar: Rs 300 per sq.ft (2024)
• Ramesh Garden: Rs 400 per sq.ft (2024)
• Padmavathy Nagar (Padmavathy Avenue): Rs 400 per sq.ft (2024)
• Om Sakthi Nagar: Rs 550 per sq.ft (2024)
• Sai Krithika Garden: Rs 469 per sq.ft (2024)
• Sakthi Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Pranav Orchid

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty is charged at 7%, which comes to Rs 42,000, and the registration fee is charged at 2%, amounting to Rs 12,000. Together, the total fees would be Rs 54,000. 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 more details.

Which Sub Registrar Office covers Pranav Orchid?

The Pranav Orchid property falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for additional assistance.

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

The guideline value is a critical factor in the registration process of property transactions in Salamangalam. It serves as a reference point for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value is used to determine the minimum value on which stamp duty is calculated. Buyers should be aware that the duty is applied to either the guideline value or the sale price, whichever is higher, ensuring that the transaction is recorded accurately.

Frequently asked questions

What is the current guideline value of Pranav Orchid?

The current guideline value of Pranav Orchid is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft since 2012, with a notable increase from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023, followed by no change in 2024.

What is the land classification of Pranav Orchid?

Pranav Orchid is classified as Mixed Type - I land, which indicates a variety of permissible land uses.

Where is the Sriperumpudur Sub Registrar Office located?

The Sriperumpudur Sub Registrar Office is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Pranav Orchid?

Stamp duty for properties in Pranav Orchid is calculated based on the guideline value or the sale price, whichever is higher. For instance, on a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 42,000.