Guideline Value for Prithivipakkam 2nd Main Road

Prithivipakkam 2nd Main Road guideline value

The current guideline value of Prithivipakkam 2nd 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 2nd Main Road has changed

Over the years, the guideline value for Prithivipakkam 2nd Main Road 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 2017 revision of Rs 2,479 per sq.ft. The 2023 revision increased the value to Rs 3,700 per sq.ft, and the latest 2024 revision has raised it to Rs 4,000 per sq.ft, reflecting an increase of 8% from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 8%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO with a 2024 guideline value range from Rs 1,400 to Rs 8,209 per sq.ft. The median value is Rs 3,600 per sq.ft, making the 2024 figure for Prithivipakkam 2nd Main Road above this median.

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

Stamp duty and registration fee for property in Prithivipakkam 2nd 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 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, making the total cost for these fees Rs 3,60,000. The duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Prithivipakkam 2nd Main Road?

The Prithivipakkam 2nd Main Road 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. To find your specific SRO, you can visit find your SRO.

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 reference point for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

When buying or selling property, the guideline value helps both parties understand the minimum value for which the property should be registered. This ensures transparency and compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of Prithivipakkam 2nd Main Road?

The current guideline value of Prithivipakkam 2nd 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 2023 to Rs 4,000 per sq.ft in 2024, reflecting an increase of 8%. It was Rs 2,479 per sq.ft in 2017 and Rs 3,700 per sq.ft in 2012, showing various changes over the years.

What are the stamp duty and registration fees for properties on this road?

For a 1,000 sq.ft plot valued at Rs 40,00,000, the stamp duty would be Rs 2,80,000, and the registration fee would be Rs 80,000, totaling Rs 3,60,000. The duty is charged on the higher of the guideline value or the sale price.

Which office handles property registrations for Prithivipakkam 2nd Main Road?

The Ambattur Sub Registrar Office handles property registrations for Prithivipakkam 2nd Main Road, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It acts as a standard reference for the minimum value at which a property should be registered, helping ensure compliance with local regulations.