Guideline Value for Prithivipakkam 1st Main Road

Prithivipakkam 1st Main Road guideline value

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

How the guideline value of Prithivipakkam 1st Main Road has changed

Looking at the historical revisions, the guideline value for Prithivipakkam 1st Main Road has seen several changes over the years. In 2012, the guideline value was Rs 3,700 per sq.ft, which then decreased to Rs 2,479 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value rose significantly by 49%, reaching Rs 3,700 per sq.ft again. The most recent revision in 2024 set the value at Rs 4,000 per sq.ft, marking an 8% increase from the previous year’s figure of Rs 3,700 per sq.ft.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Ambattur

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,000 per sq.ft, the total guideline value amounts to Rs 40,00,000. The stamp duty at 7% would be Rs 2,80,000, and the registration fee at 2% would be Rs 80,000, bringing the total fees together to Rs 3,60,000. 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 detailed calculations.

Which Sub Registrar Office covers Prithivipakkam 1st Main Road?

The Prithivipakkam 1st Main Road falls under 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 information.

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

The guideline value plays a crucial role in property transactions in Ambattur. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is registered, the guideline value is assessed, and the applicable fees are calculated based on this value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Prithivipakkam 1st Main Road?

The current guideline value of Prithivipakkam 1st Main Road 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 currently stands at Rs 4,000 per sq.ft in 2024.

What is the land classification of Prithivipakkam 1st Main Road?

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

Where can I find the Ambattur Sub Registrar Office?

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

How is stamp duty calculated on properties in Ambattur?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. It is charged at 7% of the value, along with a registration fee of 2%.