Guideline Value for Priyam Avenue

Priyam Avenue guideline value

The current guideline value of Priyam Avenue is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in Mangadu -A village under the Kunrathur SRO, classified as Residential Class I Type - I.

How the guideline value of Priyam Avenue has changed

The guideline value for Priyam Avenue has undergone several revisions over the years. The earliest recorded revision in 2017 set the value at Rs 1,139 per sq.ft. This increased significantly to Rs 1,700 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has further increased the value to Rs 1,870 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Mangadu -A

In Mangadu -A, there are a total of 208 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,870 per sq.ft, which is equal to the guideline value of Priyam Avenue.

• Priam Avenue Extension: Rs 1,870 per sq.ft (2024)
• Poonamallee - Kundrathur Road: Rs 2,200 per sq.ft (2024)
• Ponni Nagar: Rs 1,540 per sq.ft (2024)
• Ragunathapuram East: Rs 1,430 per sq.ft (2024)
• Ragunathapuram North: Rs 1,430 per sq.ft (2024)
• Ragunathapuram South: Rs 1,430 per sq.ft (2024)

Stamp duty and registration fee for property in Priyam Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value amounts to Rs 18,70,000. The stamp duty charged at 7% would be Rs 1,30,900, and the registration fee at 2% would be Rs 37,400. Together, these fees total Rs 1,68,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Priyam Avenue?

The Sub Registrar Office that covers Priyam Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more details, you can find your SRO.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value plays a crucial role during the registration of property transactions in Mangadu -A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state collects appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are transparent and comply with state regulations.

Frequently asked questions

What is the current guideline value of Priyam Avenue?

The current guideline value of Priyam Avenue is Rs 1,870 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,139 per sq.ft to Rs 1,870 per sq.ft in 2024, marking an overall increase of 64%.

What are the stamp duty and registration fees for a property in Priyam Avenue?

For a property valued at Rs 18,70,000, the stamp duty would be Rs 1,30,900 and the registration fee would be Rs 37,400, totaling Rs 1,68,300.

Which Sub Registrar Office covers Priyam Avenue?

Priyam Avenue falls under the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Priyam Avenue?

Priyam Avenue is classified as Residential Class I Type - I, indicating its suitability for residential development.