Guideline Value for Prithivipakkam 1st Street

Prithivipakkam 1st Street guideline value

The current guideline value of Prithivipakkam 1st Street is Rs 4,000 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village, under the Ambattur SRO, and is classified as Residential Special Type - II.

How the guideline value of Prithivipakkam 1st Street has changed

The guideline value for Prithivipakkam 1st Street has seen several revisions over the years. The 2012 revision recorded a value of Rs 3,700 per sq.ft, which was then reduced to Rs 2,479 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value rose significantly to Rs 3,700 per sq.ft, an increase of 49%. The most recent revision in 2024 set the guideline value at Rs 4,000 per sq.ft, reflecting an 8% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 8%.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that carry a guideline value for 2024, ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value is Rs 3,600 per sq.ft, placing Prithivipakkam 1st Street's 2024 figure above this median.

• Prithivipakkam 1st Main Road: Rs 4,000 per sq.ft (2024)
• Prithivipakkam 1st Cross Street: Rs 4,000 per sq.ft (2024)
• Prithivipakkam 2nd Avenue: Rs 4,000 per sq.ft (2024)
• Prithivipakkam 1st Avenue: Rs 4,000 per sq.ft (2024)
• Prithivipakkam 2nd Cross Street: Rs 4,000 per sq.ft (2024)
• Prithivipakkam 2nd Main Road: Rs 4,000 per sq.ft (2024)

Stamp duty and registration fee for property in Prithivipakkam 1st Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 40,00,000. The stamp duty at 7% amounts to Rs 2,80,000, and the registration fee at 2% is Rs 80,000, totaling Rs 3,60,000. It is important to note that the 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 Prithivipakkam 1st Street?

The Sub Registrar Office that covers Prithivipakkam 1st Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Ambattur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Prithivipakkam 1st Street?

The current guideline value of Prithivipakkam 1st Street is Rs 4,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,700 per sq.ft in 2012 to Rs 2,479 per sq.ft in 2017, then back to Rs 3,700 per sq.ft in 2023, and finally to Rs 4,000 per sq.ft in 2024.

What is the land classification for Prithivipakkam 1st Street?

Prithivipakkam 1st Street is classified as Residential Special Type - II.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Prithivipakkam 1st Street is charged at 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in Ambattur?

The Ambattur Sub Registrar Office handles property registrations in Ambattur, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.