Guideline Value for Prethiv Nagar

Prethiv Nagar guideline value

The current guideline value of Prethiv Nagar, located in Chennerkuppam village under the Kunrathur SRO, is Rs 1,430 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under Residential Class I Type - III land classification.

How the guideline value of Prethiv Nagar has changed

Over the years, the guideline value of Prethiv Nagar has seen several revisions. The 2012 revision set the value at Rs 1,300 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 871 per sq.ft. The next revision in 2023 increased the value to Rs 1,300 per sq.ft, followed by a further increase to Rs 1,430 per sq.ft in 2024, marking a 10% rise from the previous year.

From 2012 to 2024, the overall change in guideline value is +10%. The 2023 to 2024 revision saw a 10% increase, while the 2017 to 2023 period experienced a significant rise of 49%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,895 per sq.ft. The median value for these streets is Rs 1,540 per sq.ft, placing Prethiv Nagar's 2024 figure below that median.

• Poonamallee Pipas Road: Rs 4,620 per sq.ft (2024)
• Periyar Nagar Extension: Rs 1,540 per sq.ft (2024)
• Periyar Nagar: Rs 1,540 per sq.ft (2024)
• Pavithra Nagar: Rs 1,430 per sq.ft (2024)
• Parvathi Nagar: Rs 1,430 per sq.ft (2024)
• Pallavan Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Prethiv Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,430 per sq.ft, the total guideline value amounts to Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, leading to a total of Rs 1,28,700. It is important to note that 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 accurate calculations.

Which Sub Registrar Office covers Prethiv Nagar?

The Sub Registrar Office that covers Prethiv Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in determining the stamp duty and registration fees when buying or selling property in Chennerkuppam. It serves as a benchmark for the property value, ensuring that the transaction is registered at a fair value as per government regulations.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Prethiv Nagar?

The current guideline value of Prethiv Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2023 to Rs 1,430 per sq.ft in 2024, marking a 10% increase. It was Rs 871 per sq.ft in 2017 and Rs 1,300 per sq.ft in 2012.

Where can I find the registration office for Prethiv Nagar?

The registration office for Prethiv Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Tamil Nadu is 7%. This is calculated based on the guideline value or the sale price, whichever is higher.

How can I calculate the stamp duty and registration fees?

You can calculate the stamp duty and registration fees using our stamp duty and registration fee calculator for accurate amounts based on the property value.