Guideline Value for NEW PADMAVATHY CITY

New Padmavathy City guideline value

The current guideline value of New Padmavathy City is Rs 550 per sq.ft, effective from 1 July 2024. This property is located in Minjur village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of New Padmavathy City has changed

The guideline value for New Padmavathy City has undergone several revisions over the years. The 2017 revision set the value at Rs 335 per sq.ft, which increased to Rs 500 per sq.ft in 2023. The latest revision in 2024 raised the guideline value to Rs 550 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2017 to 2024, the guideline value has risen by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Minjur

In Minjur village, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft. The median value for these streets is Rs 550 per sq.ft, making the guideline value of New Padmavathy City equal to this median.

• Nethaji Nagar & Ext I&ii: Rs 550 per sq.ft (2024)
• North Street: Rs 550 per sq.ft (2024)
• Nehru Nagar: Rs 550 per sq.ft (2024)
• Om Shakthi Nagar: Rs 550 per sq.ft (2024)
• Pachaiyamman Kovil Road: Rs 550 per sq.ft (2024)
• Pachaiyamman Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in New Padmavathy City

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty is charged at 7%, which totals Rs 38,500, and the registration fee at 2% amounts to Rs 11,000, bringing the total fees to Rs 49,500. Duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Padmavathy City?

The Sub Registrar Office that covers New Padmavathy City is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Minjur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When buying or selling property, the guideline value helps in determining the official value of the property, which is used for tax purposes. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value for New Padmavathy City?

The current guideline value for New Padmavathy City is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What are the stamp duty and registration fees for properties in New Padmavathy City?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which Sub Registrar Office covers this area?

The Ponneri Sub Registrar Office covers New Padmavathy City, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the land classification for New Padmavathy City?

The land classification for New Padmavathy City is Residential Class II Type - I, indicating its designation for residential use.