Guideline Value for Prithivipakkam 3rd Avenue

Prithivipakkam 3rd Avenue guideline value

The current guideline value of Prithivipakkam 3rd Avenue 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 3rd Avenue has changed

The guideline value for Prithivipakkam 3rd Avenue has undergone several revisions over the years. The 2012 revision recorded a value of Rs 3,700 per sq.ft, which then decreased to Rs 2,479 per sq.ft in the 2017 revision. Following this, the value saw a significant increase to Rs 3,700 per sq.ft in the 2023 revision and further rose to Rs 4,000 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been an 8% increase. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ambattur

In Ambattur, there are a total of 448 streets under the Ambattur SRO, with 2024 guideline values 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 3rd Avenue's 2024 figure above this median.

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

Stamp duty and registration fee for property in Prithivipakkam 3rd Avenue

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, while the registration fee at 2% would be Rs 80,000, bringing the total cost for these fees to Rs 3,60,000. Duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Prithivipakkam 3rd Avenue?

The Prithivipakkam 3rd Avenue 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 plays a crucial role during the registration of property transactions in Ambattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations associated with the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Prithivipakkam 3rd Avenue?

The current guideline value of Prithivipakkam 3rd Avenue 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 3rd Avenue?

Prithivipakkam 3rd Avenue is classified as Residential Special Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in Prithivipakkam 3rd Avenue?

For a 1,000 sq.ft plot, the total guideline value is Rs 40,00,000, leading to a stamp duty of Rs 2,80,000 and a registration fee of Rs 80,000, totaling Rs 3,60,000.

Which office handles property registrations in Prithivipakkam 3rd Avenue?

The Ambattur Sub Registrar Office is responsible for handling property registrations in Prithivipakkam 3rd Avenue, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.