Guideline Value for Priya Nagar

Priya Nagar guideline value

The current guideline value of Priya Nagar, located in Nandhivaram village under the Gooduvancheri SRO, is Rs 1,500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Priya Nagar has changed

The guideline value for Priya Nagar has seen several revisions over the years. In 2002, the value was Rs 77 per sq.ft, which increased significantly to Rs 601 per sq.ft in 2007. The value further rose to Rs 1,500 per sq.ft in 2012, but then decreased to Rs 1,005 per sq.ft in 2017. The 2023 revision maintained the value at Rs 1,500 per sq.ft, and the current 2024 revision also holds the same figure. Notably, there is no figure available for the year 2003 in the register for this street.

The changes in the guideline value from one revision to the next are notable. From 2002 to 2007, there was a substantial increase of +681%. The value then rose by +150% from 2007 to 2012. However, it saw a decrease of -33% from 2012 to 2017. After that, the value increased by +49% from 2017 to 2023, with no change from 2023 to 2024.

Guideline values in Nandhivaram

Nandhivaram village features 169 streets under the Gooduvancheri SRO, with guideline values for 2024 ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, which is equal to the guideline value of Priya Nagar.

• P.R.V. Nagar: Rs 1,000 per sq.ft (2024)
• Prabhu Avenue: Rs 1,200 per sq.ft (2024)
• Radhakrishnan Nagar: Rs 1,200 per sq.ft (2024)
• Radha Nagar (212/2): Rs 2,000 per sq.ft (2024)
• Radha Nagar (Near G.S.T Road): Rs 3,500 per sq.ft (2024)
• Pillaiyar Kovil Street: Rs 1,200 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, totaling Rs 1,35,000. It is 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 more details.

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, Nandhivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Nandhivaram. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to assess the applicable fees. Buyers should be aware that the fees are calculated based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

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 changed from Rs 77 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2012, then decreased to Rs 1,005 per sq.ft in 2017, and has remained at Rs 1,500 per sq.ft in 2023 and 2024.

What is the land classification for Priya Nagar?

The land classification for Priya Nagar is Residential Special Type - I.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would be Rs 1,35,000.

Which office handles the registration for Priya Nagar?

The Gooduvancheri Sub Registrar Office handles the registration for Priya Nagar, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvanchery-603202, Chengalpattu registration zone.