Guideline Value for Prem Nagar Extension

Prem Nagar Extension guideline value

The current guideline value of Prem Nagar Extension in Pozhichalur village is Rs 1,650 per sq.ft, effective from 1 July 2024. This area falls under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Prem Nagar Extension has changed

The guideline value for Prem Nagar Extension has seen significant changes over the years. The 2017 revision set the value at Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision has further increased the value to Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, and the guideline value for Prem Nagar Extension is above this median.

• Prem Nagar: Rs 1,650 per sq.ft (2024)
• Pozhichalur Main Road (8): Rs 2,750 per sq.ft (2024)
• Pozhichalur Main Road (16): Rs 2,750 per sq.ft (2024)
• Pozhichalur Main Road (14): Rs 2,750 per sq.ft (2024)
• Pozhichalur Main Road: Rs 2,750 per sq.ft (2024)
• Poonurangam Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Prem Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total charges Rs 1,48,500. It is important to note that the stamp duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Prem Nagar Extension?

The Prem Nagar Extension area is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Pozhichalur. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of real estate in the area.

Frequently asked questions

What is the current guideline value of Prem Nagar Extension?

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

How much has the guideline value changed in recent years?

Since 2017, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,650 per sq.ft in 2024, which is a total increase of 64% over the seven years.

What are the stamp duty and registration fees for property in Prem Nagar Extension?

The stamp duty is 7% and the registration fee is 2%. For a property valued at Rs 16,50,000, the total charges would be Rs 1,48,500.

Which Sub Registrar Office covers Prem Nagar Extension?

The Pammal Sub Registrar Office covers Prem Nagar Extension, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Prem Nagar Extension?

Prem Nagar Extension is classified as Residential Class I Type - I, indicating its designation for residential purposes.