Guideline Value for Priyalvar Street

Priyalvar Street guideline value

The current guideline value of Priyalvar Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO and is classified as Residential Class II Type - II.

How the guideline value of Priyalvar Street has changed

Over the years, the guideline value of Priyalvar Street has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which remained unchanged until the 2017 revision when it decreased to Rs 670 per sq.ft. The value then increased significantly to Rs 1,000 per sq.ft in the 2023 revision, followed by a rise to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In summary, from 2012 to 2024, the overall change in guideline value is +10%. The revisions for the years 2002, 2003, and 2007 do not have figures recorded for Priyalvar Street in the register.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Priyalvar Street's 2024 figure below that median.

• Prem Nagar: Rs 1,100 per sq.ft (2024)
• Prathip Avenue: Rs 1,650 per sq.ft (2024)
• Prathap Avenue (Munu Adhi Street): Rs 1,650 per sq.ft (2024)
• Prathap Avenue: Rs 2,750 per sq.ft (2024)
• Pugalendhi Street: Rs 2,750 per sq.ft (2024)
• Purananuru Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Priyalvar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for these fees to Rs 99,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Priyalvar Street?

Priyalvar Street falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor during property registration in Chitlapakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs reflect the official valuation of the property.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This ensures transparency and fairness in property transactions, safeguarding both buyers and sellers.

Frequently asked questions

What is the current guideline value for Priyalvar Street?

The current guideline value for Priyalvar Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has fluctuated, starting at Rs 1,000 per sq.ft in 2012, decreasing to Rs 670 per sq.ft in 2017, then rising to Rs 1,000 per sq.ft in 2023, and finally reaching Rs 1,100 per sq.ft in 2024.

What is the median guideline value in Chitlapakkam?

The median guideline value for streets in Chitlapakkam is Rs 1,650 per sq.ft, which is higher than the current value of Priyalvar Street.

Where can I find the Sub Registrar Office for Priyalvar Street?

The Sub Registrar Office covering Priyalvar Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

How is the stamp duty calculated for properties on Priyalvar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%.