Guideline Value for Priam Avenue Extension

Priam Avenue Extension guideline value

The current guideline value of Priam Avenue Extension is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in Mangadu -A village under the Kunrathur SRO, classified as Residential Class I Type - I.

How the guideline value of Priam Avenue Extension has changed

The guideline value for Priam Avenue Extension has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 1,139 per sq.ft. This increased to Rs 1,700 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,870 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for Priam Avenue Extension.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,870 per sq.ft, which is equal to the current guideline value of Priam Avenue Extension.

• Priyam Avenue: Rs 1,870 per sq.ft (2024)
• Poonamallee - Kundrathur Road: Rs 2,200 per sq.ft (2024)
• Ponni Nagar: Rs 1,540 per sq.ft (2024)
• Ragunathapuram East: Rs 1,430 per sq.ft (2024)
• Ragunathapuram North: Rs 1,430 per sq.ft (2024)
• Ragunathapuram South: Rs 1,430 per sq.ft (2024)

Stamp duty and registration fee for property in Priam Avenue Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value amounts to Rs 18,70,000. The stamp duty at 7% would be Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, leading to a total cost of Rs 1,68,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Priam Avenue Extension?

The Priam Avenue Extension is covered by 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 Mangadu -A

The guideline value is a crucial factor during the registration process of property transactions in Mangadu -A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated appropriately.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of the guideline value to make informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Priam Avenue Extension?

The current guideline value of Priam Avenue Extension is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,139 per sq.ft in 2017 to Rs 1,700 per sq.ft in 2023, and then to Rs 1,870 per sq.ft in 2024, showing an overall increase of 64% from 2017 to 2024.

What are the stamp duty and registration fees for property in Priam Avenue Extension?

For a property valued at Rs 18,70,000, the stamp duty would be Rs 1,30,900 and the registration fee would be Rs 37,400, totaling Rs 1,68,300.

Which Sub Registrar Office covers Priam Avenue Extension?

The Kunrathur Sub Registrar Office covers Priam Avenue Extension, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Priam Avenue Extension?

Priam Avenue Extension is classified as Residential Class I Type - I, indicating its suitability for residential development.