Guideline Value for PADMANABHA NAGAR

Padmanabha Nagar guideline value

The current guideline value of Padmanabha Nagar, located in Puliyur village under the Kodambakkam SRO, is Rs 5,000 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Padmanabha Nagar has changed

Over the years, the guideline value for Padmanabha Nagar has seen significant changes. In the 2007 revision, the value was set at Rs 1,200 per sq.ft, which increased dramatically to Rs 4,600 per sq.ft in the 2012 revision. This marked a substantial rise of 283%. The value remained unchanged at Rs 4,600 per sq.ft in the 2023 revision, before increasing to Rs 5,000 per sq.ft in the 2024 revision, reflecting a 9% increase.

Notably, there are no figures available for the revisions in 2002, 2003, and 2017. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 317%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value is Rs 5,800 per sq.ft, placing the 2024 figure for Padmanabha Nagar below this median.

• Padmanabha Nagar Main Road: Rs 5,000 per sq.ft (2024)
• Padmanabha Pillai Street: Rs 5,800 per sq.ft (2024)
• Palaniappan Street: Rs 3,800 per sq.ft (2024)
• Othavadai Street: Rs 4,400 per sq.ft (2024)
• Palli Salai: Rs 5,300 per sq.ft (2024)
• N.T.R. Street: Rs 6,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmanabha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total charges to Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmanabha Nagar?

The Sub Registrar Office that covers Padmanabha Nagar is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Puliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When registering a property, buyers and sellers must be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures compliance with the legal requirements set by the Registration Department.

Frequently asked questions

What is the current guideline value of Padmanabha Nagar?

The current guideline value of Padmanabha Nagar is Rs 5,000 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased by 317%, from Rs 1,200 per sq.ft to Rs 5,000 per sq.ft in 2024.

What are the other streets in Puliyur with their guideline values?

Other streets in Puliyur include Padmanabha Nagar Main Road at Rs 5,000 per sq.ft, Padmanabha Pillai Street at Rs 5,800 per sq.ft, and several others with varying rates.

What is the registration fee for property in Padmanabha Nagar?

The registration fee is typically 2% of the guideline value. For a property valued at Rs 50,00,000, the registration fee would be Rs 1,00,000.

Where can I find the Sub Registrar Office for Padmanabha Nagar?

The Kodambakkam Sub Registrar Office covers Padmanabha Nagar, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.