Guideline Value for Priya Nagar

Priya Nagar guideline value

The current guideline value of Priya Nagar, located in Karanaithangal village under the Sunguvarchattram SRO, is Rs 800 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Special Type - I.

How the guideline value of Priya Nagar has changed

Looking at the revisions of the guideline value for Priya Nagar, the 2012 revision set the value at Rs 800 per sq.ft. This figure remained unchanged until the 2017 revision, which decreased to Rs 536 per sq.ft, marking a drop of 33%. However, the guideline value saw a significant increase in the 2023 revision, returning to Rs 800 per sq.ft, and maintained this rate through to the 2024 revision, showing no change.

In summary, from 2012 to 2024, the overall change in guideline value is 0%. The 2023 to 2024 revision also reflects no change, with a 49% increase from 2017 to 2023.

Guideline values in Karanaithangal

In Karanaithangal, there are 17 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 471 to Rs 1,000 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value for Priya Nagar is above this median.

• Pillaiyar Kovil Street: Rs 500 per sq.ft (2024)
• Perinjambakkam Salai: Rs 500 per sq.ft (2024)
• Selvaganapathy Nagar: Rs 500 per sq.ft (2024)
• Kullakkarai Street: Rs 500 per sq.ft (2024)
• Thambaram-Kanchipuram Main Road: Rs 1,000 per sq.ft (2024)
• Kalaivani Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Priya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total fees to Rs 72,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Priya Nagar?

The Sub Registrar Office that covers Priya Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Karanaithangal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Priya Nagar?

The current guideline value of Priya Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revisions showing a return to Rs 800 per sq.ft in 2023 and 2024, after a decrease to Rs 536 per sq.ft in 2017.

What is the land classification of Priya Nagar?

Priya Nagar is classified as Commercial Special Type - I, which indicates its suitability for commercial activities.

What are the other streets in Karanaithangal?

Other streets in Karanaithangal include Pillaiyar Kovil Street, Perinjambakkam Salai, Selvaganapathy Nagar, Kullakkarai Street, Thambaram-Kanchipuram Main Road, and Kalaivani Nagar, with varying guideline values.

Where is the Sub Registrar Office for Priya Nagar located?

The Sub Registrar Office for Priya Nagar is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.