Guideline Value for Priya Nagar

Priya Nagar guideline value

The current guideline value of Priya Nagar 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 has changed

The guideline value for Priya Nagar has remained stable at Rs 1,500 per sq.ft for both the 2023 and 2024 revisions. Prior to this, the 2017 revision recorded a guideline value of Rs 1,005 per sq.ft, marking a significant increase of 49% from 2017 to 2023.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the current 2024 revision, the guideline value has increased by 49%.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that have 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, which is equal to the current value for Priya Nagar.

• Priya Nagar Ext. I & II & III: 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)
• Poonga Street: Rs 1,500 per sq.ft (2024)
• Pushpa Kanth Nagar: Rs 1,200 per sq.ft (2024)
• Radhakrishnan Street: Rs 2,001 per sq.ft (2024)

Stamp duty and registration fee for property in Priya Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,500 per sq.ft, the guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. It's important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Priya Nagar?

The Sub Registrar Office that covers Priya Nagar 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 information.

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 minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a 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 implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Priya Nagar?

The current guideline value of Priya Nagar 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 for both the 2023 and 2024 revisions, with a significant increase of 49% from Rs 1,005 per sq.ft in 2017.

What is the land classification for Priya Nagar?

Priya Nagar is classified as Residential Special Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property in Priya Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would amount to Rs 1,35,000.

Which office handles property registration for Priya Nagar?

The Gooduvancheri Sub Registrar Office is responsible for property registration in Priya Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202.