Guideline Value for Priya Nagar Ext. I & II & III

Priya Nagar Ext. I & II & III guideline value

The current guideline value of Priya Nagar Ext. I & II & III is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Gooduvancheri village, under the Gooduvancheri SRO, and is classified as Residential Special Type - I.

How the guideline value of Priya Nagar Ext. I & II & III has changed

The guideline value for Priya Nagar Ext. I & II & III has seen several revisions over the years. The 2017 revision set the value at Rs 1,005 per sq.ft. This was followed by the 2023 revision, which maintained the value at Rs 1,500 per sq.ft. The 2024 revision also keeps the value at Rs 1,500 per sq.ft, indicating no change from the previous year. Notably, the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2017 to 2024, there has been a 49% increase in the guideline value, reflecting the stability of the value in the most recent revisions.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,500 per sq.ft, making the 2024 figure for Priya Nagar Ext. I & II & III equal to this median.

• Priya Nagar: Rs 1,500 per sq.ft (2024)
• P.R.V. Nagar: Rs 1,500 per sq.ft (2024)
• Pushapa Avenue: Rs 1,200 per sq.ft (2024)
• Pushpa Kanth Nagar: Rs 1,200 per sq.ft (2024)
• Poonga Street: Rs 1,500 per sq.ft (2024)
• Radhakrishnan Street: Rs 2,001 per sq.ft (2024)

Stamp duty and registration fee for property in Priya Nagar Ext. I & II & III

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, while the registration fee at 2% would be Rs 30,000, bringing the total fees to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Priya Nagar Ext. I & II & III?

The Sub Registrar Office covering Priya Nagar Ext. I & II & III is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Gooduvancheri. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property. The registration office uses this value to ensure that the correct fees are collected based on the property’s worth.

When a property is sold, the guideline value helps in assessing the legal documentation required for the transfer. Buyers and sellers must be aware of this value to ensure compliance with local regulations and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Priya Nagar Ext. I & II & III?

The current guideline value of Priya Nagar Ext. I & II & III is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,500 per sq.ft since 2023. It was Rs 1,005 per sq.ft in 2017, marking a 49% increase over the years from 2017 to 2024.

What is the land classification for Priya Nagar Ext. I & II & III?

Priya Nagar Ext. I & II & III is classified as Residential Special Type - I.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, a 1,000 sq.ft plot at Rs 1,500 per sq.ft would incur a total fee of Rs 1,35,000.