Guideline Value for Prithivipakkam 2nd Street

Prithivipakkam 2nd Street guideline value

The current guideline value for Prithivipakkam 2nd 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 2nd Street has changed

Over the years, the guideline value for Prithivipakkam 2nd Street has seen several revisions. The 2012 revision set the value at Rs 3,700 per sq.ft, which then changed to Rs 2,479 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,700 per sq.ft, reflecting a rise of 49%. The latest revision in 2024 has further raised the guideline value to Rs 4,000 per sq.ft, an increase of 8% from the previous year.

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 value for these streets is Rs 3,600 per sq.ft, making the 2024 guideline value for Prithivipakkam 2nd Street above this median.

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

Stamp duty and registration fee for property in Prithivipakkam 2nd 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 cost for these fees to Rs 3,60,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Prithivipakkam 2nd Street?

The Sub Registrar Office that covers Prithivipakkam 2nd 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 information.

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

The guideline value is a crucial factor when it comes to property transactions in Ambattur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid based on the established guideline value.

Frequently asked questions

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

The current guideline value of Prithivipakkam 2nd 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 increased 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 2nd Street?

Prithivipakkam 2nd Street is classified as Residential Special Type - II.

What are the other streets in Ambattur with the same guideline value?

Other streets in Ambattur with a guideline value of Rs 4,000 per sq.ft include Prithivipakkam 2nd Main Road, Prithivipakkam 3rd Avenue, Prithivipakkam 2nd Cross Street, Prithivipakkam 3rd Cross Street, Prithivipakkam 2nd Avenue, and Prithivipakkam 3rd Main Road.

Where can I find the Sub Registrar Office for Prithivipakkam 2nd Street?

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