Guideline Value for PADMAM GARDEN

Padmam Garden guideline value

The current guideline value of Padmam Garden, located in Perungalathur village under the Padappai SRO, is Rs 3,960 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Padmam Garden has changed

The guideline value of Padmam Garden has undergone several revisions over the years. The most recent revision, effective from 1 July 2024, sets the value at Rs 3,960 per sq.ft, which is an increase from Rs 3,600 per sq.ft in 2023. This represents a change of +10%. Prior to that, the 2017 revision recorded a guideline value of Rs 2,412 per sq.ft, marking a significant increase of +49% from 2017 to 2023. 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 revisions in the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,310 per sq.ft, making the guideline value of Padmam Garden above that median.

• Padmavathi Nagar: Rs 2,970 per sq.ft (2024)
• O.V. Alagesan Street: Rs 1,980 per sq.ft (2024)
• Pananchalai: Rs 1,650 per sq.ft (2024)
• N.T.R.Garden: Rs 1,980 per sq.ft (2024)
• Panchayat Board Street: Rs 2,640 per sq.ft (2024)
• Pandiyan Theru: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Padmam Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value amounts to Rs 39,60,000. The stamp duty at 7% would be Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total fees together to Rs 3,56,400. It is important to note that 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 Padmam Garden?

The Sub Registrar Office that covers Padmam Garden is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential reference for determining the stamp duty and registration fees when buying or selling property in Perungalathur. It serves as a benchmark for the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable fees. The registration process requires that the duty is charged based on the higher of the guideline value or the sale price, ensuring transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Padmam Garden?

The current guideline value of Padmam Garden is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,412 per sq.ft in 2017 to Rs 3,960 per sq.ft in 2024, marking an overall increase of +64% during this period.

What is the land classification for Padmam Garden?

The land classification for Padmam Garden is Commercial Class I Type - I.

Where is the Sub Registrar Office for Padmam Garden located?

The Sub Registrar Office for Padmam Garden is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Padmam Garden?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 39,60,000, the stamp duty at 7% would be Rs 2,77,200.