Guideline Value for Priya Nagar

Priya Nagar guideline value

The current guideline value of Priya Nagar, located in Vilangadupakkam village under the Redhills SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Priya Nagar has changed

The guideline value for Priya Nagar has experienced several revisions over the years. Starting from Rs 21 per sq.ft in 2003, it increased significantly to Rs 300 per sq.ft in 2007, marking a substantial rise of 1329%. In 2012, the value saw a decrease to Rs 500 per sq.ft, a drop of 33%. The value then rose again to Rs 335 per sq.ft in 2017, and subsequently increased to Rs 500 per sq.ft in 2023, before reaching the current rate of Rs 550 per sq.ft in 2024, which represents a 10% increase from the previous year.

There is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 2519%, reflecting the changes through the years.

Guideline values in Vilangadupakkam

In Vilangadupakkam, there are 160 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 365 to Rs 1,792 per sq.ft, with a median value of Rs 440 per sq.ft. The guideline value for Priya Nagar is above this median.

• Prem Nagar: Rs 440 per sq.ft (2024)
• Pratheep Nagar: Rs 550 per sq.ft (2024)
• Raja Ganapathy Nagar: Rs 550 per sq.ft (2024)
• Perumal Koil Street: Rs 440 per sq.ft (2024)
• Parthasarathy Nagar II: Rs 770 per sq.ft (2024)
• Ramdass Nagar: Rs 440 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 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Priya Nagar?

Priya Nagar falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Vilangadupakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When you buy or sell property, the guideline value helps in assessing the transaction value. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Priya Nagar?

The current guideline value of Priya Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 21 per sq.ft in 2003 to Rs 550 per sq.ft in 2024, with various revisions in between, including a significant increase of 1329% from 2003 to 2007.

What is the land classification for Priya Nagar?

Priya Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the registration office for Priya Nagar?

The registration office for Priya Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Priya Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 at a rate of 7%.