Guideline Value for Priya Nagar

Priya Nagar guideline value

The current guideline value of Priya Nagar, located in Maathoor village, is Rs 300 per sq.ft, effective from 1 July 2024. This area falls under the Sunguvarchattram SRO and is classified as Residential Class II Type - I.

How the guideline value of Priya Nagar has changed

Looking at the historical revisions of the guideline value for Priya Nagar, the 2012 revision set the value at Rs 300 per sq.ft. This was followed by a decrease to Rs 201 per sq.ft in the 2017 revision, marking a -33% change. However, from 2017 to 2023, the value increased by 49%, bringing it back to Rs 300 per sq.ft in 2023. The most recent revision in 2024 has maintained this value at Rs 300 per sq.ft, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained the same at Rs 300 per sq.ft.

Guideline values in Maathoor

In Maathoor, there are 47 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 2,687 per sq.ft. The median value among these streets is Rs 500 per sq.ft, positioning Priya Nagar below this median.

• Roja Nagar: Rs 250 per sq.ft (2024)
• Nehru Street: Rs 500 per sq.ft (2024)
• Mungillamman Kovil Street: Rs 500 per sq.ft (2024)
• Mungilan Kovil Main Road: Rs 500 per sq.ft (2024)
• Sivan Kovil Street: Rs 505 per sq.ft (2024)
• Manimegalai Street: 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 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty, charged at 7%, would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, resulting in a total of Rs 27,000 for fees. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Priya Nagar?

The Sub Registrar Office covering 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 additional information.

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

The guideline value plays a crucial role in the registration process of property transactions in Maathoor. It is used to determine the applicable stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, understanding the guideline value is essential as it influences the financial obligations involved in the transaction. It is advisable to check the latest guideline values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Priya Nagar?

The current guideline value of Priya Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then back to Rs 300 per sq.ft in 2023 and 2024. There are no figures available for the years 2002, 2003, and 2007.

What are the guideline values of other streets in Maathoor?

Other streets in Maathoor have varying guideline values, with rates ranging from Rs 250 to Rs 505 per sq.ft. The median value for these streets is Rs 500 per sq.ft.

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

The stamp duty for a property in Priya Nagar is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 27,000.

Which office handles registrations for Priya Nagar?

The Sunguvarchattram Sub Registrar Office is responsible for handling registrations for Priya Nagar, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company.