Guideline Value for Prithivipakkam 2nd Cross Street

Prithivipakkam 2nd Cross Street guideline value

The current guideline value of Prithivipakkam 2nd Cross 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 it falls under the Residential Special Type - II land classification.

How the guideline value of Prithivipakkam 2nd Cross Street has changed

Over the years, the guideline value of Prithivipakkam 2nd Cross Street has seen several revisions. The 2012 revision set the value at Rs 3,700 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 2,479 per sq.ft. The next revision in 2023 raised the value to Rs 3,700 per sq.ft, and the most recent revision in 2024 increased it further to Rs 4,000 per sq.ft, marking an 8% increase from 2023.

It is important to note that the register has no figures for the years 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 village, there are 448 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median value is Rs 3,600 per sq.ft, placing the 2024 figure for Prithivipakkam 2nd Cross Street above this median.

• Prithivipakkam 2nd Avenue: Rs 4,000 per sq.ft (2024)
• Prithivipakkam 2nd Main Road: Rs 4,000 per sq.ft (2024)
• Prithivipakkam 2nd Street: Rs 4,000 per sq.ft (2024)
• Prithivipakkam 1st Street: Rs 4,000 per sq.ft (2024)
• Prithivipakkam 3rd Avenue: Rs 4,000 per sq.ft (2024)
• Prithivipakkam 1st Main Road: Rs 4,000 per sq.ft (2024)

Stamp duty and registration fee for property in Prithivipakkam 2nd Cross Street

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

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Prithivipakkam 2nd Cross Street?

The Prithivipakkam 2nd Cross Street falls under the jurisdiction of 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 in the registration process when buying or selling property in Ambattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When you register a property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the fees are proportionate to the property's value, reflecting the official assessment of the property’s worth.

Frequently asked questions

What is the current guideline value of Prithivipakkam 2nd Cross Street?

The current guideline value of Prithivipakkam 2nd Cross 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 2023 to Rs 4,000 per sq.ft in 2024, reflecting an 8% increase. From 2017 to 2023, it rose significantly by 49% from Rs 2,479 per sq.ft.

What is the land classification for Prithivipakkam 2nd Cross Street?

The land classification for Prithivipakkam 2nd Cross Street is Residential Special Type - II.

What are the stamp duty and registration fees for property in this area?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 40,00,000, the total fees would be Rs 3,60,000.

Which office handles registrations for Prithivipakkam 2nd Cross Street?

The Ambattur Sub Registrar Office handles registrations for Prithivipakkam 2nd Cross Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.