Guideline Value for Prime City

Prime City guideline value

The current guideline value of Prime City, located in Nemili_B village, is Rs 200 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class III Type - I land classification, and is registered with the Sriperumpudur SRO.

How the guideline value of Prime City has changed

The guideline value for Prime City has undergone several revisions over the years. The earliest available figure is from the 2017 revision, which was Rs 134 per sq.ft. This increased to Rs 200 per sq.ft in both the 2023 and 2024 revisions, marking a 49% increase from 2017 to 2023 and remaining unchanged from 2023 to 2024.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 49%.

Guideline values in Nemili_B

In Nemili_B, there are 97 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 1,500 per sq.ft, with a median value of Rs 250 per sq.ft. Prime City’s guideline value of Rs 200 per sq.ft is below this median.

• Prince Paradise (Prince Residencia): Rs 1,000 per sq.ft (2024)
• Prasannalaxmi Nagar: Rs 200 per sq.ft (2024)
• Pump Room Street: Rs 150 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 200 per sq.ft (2024)
• Rajaji Street: Rs 150 per sq.ft (2024)
• Rajan Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Prime City

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, making a total of Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Prime City?

The Sub Registrar Office that covers Prime City is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nemili_B. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value helps establish the minimum value for which the property can be registered, ensuring that the government receives the appropriate taxes based on the property's value.

Frequently asked questions

What is the current guideline value of Prime City?

The current guideline value of Prime City is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 134 per sq.ft to Rs 200 per sq.ft in both the 2023 and 2024 revisions, representing a 49% increase overall.

What are the guideline values of other streets in Nemili_B?

Other streets in Nemili_B have varying guideline values, with rates ranging from Rs 150 to Rs 1,500 per sq.ft. For example, Rajan Nagar has a guideline value of Rs 300 per sq.ft, while Pump Room Street has a value of Rs 150 per sq.ft.

What fees are involved in the registration process?

In the registration process, the stamp duty is charged at 7% of the guideline value, while the registration fee is charged at 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Prime City?

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