Guideline Value for Primier Nagar

Primier Nagar guideline value

The current guideline value of Primier Nagar, located in Padappai village under the Padappai SRO, is Rs 990 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Primier Nagar has changed

The guideline value for Primier Nagar has seen significant changes over the years. In 2007, the value was Rs 85 per sq.ft, which increased dramatically to Rs 900 per sq.ft in 2012. However, from 2012 to 2017, the value decreased to Rs 603 per sq.ft. Following this, the value rose to Rs 900 per sq.ft in 2023, and finally, it is now Rs 990 per sq.ft as of the 2024 revision. There are no figures available for the years 2002 and 2003 in the register for this street.

Examining the percentage changes, the increase from 2007 to 2012 was +959%, while the drop from 2012 to 2017 was -33%. The value then rose by +49% from 2017 to 2023, and the most recent increase from 2023 to 2024 is +10%. Overall, from 2007 to 2024, the guideline value has increased by +1065%.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft, with a median value of Rs 830 per sq.ft. The guideline value of Primier Nagar is above this median.

• Pushpagiri Salai: Rs 830 per sq.ft (2024)
• Radha Nagar: Rs 1,320 per sq.ft (2024)
• Radiance Smartville: Rs 2,470 per sq.ft (2024)
• P.M.D Nagar: Rs 3,300 per sq.ft (2024)
• Perumal Koil Street: Rs 830 per sq.ft (2024)
• Periya Street: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Primier Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. It is important to note that 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 information.

Which Sub Registrar Office covers Primier Nagar?

The Sub Registrar Office that covers Primier Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Padappai. It determines the minimum value at which property transactions are registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Primier Nagar?

The current guideline value of Primier Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 85 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, with various fluctuations in between.

What is the land classification of Primier Nagar?

Primier Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Primier Nagar?

The Sub Registrar Office for Primier Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Primier Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 at 7%.