Guideline Value for PADMANABHA STREET

Padmanabha Street guideline value

The current guideline value of Padmanabha Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO, classified as Residential Class III Type - I.

How the guideline value of Padmanabha Street has changed

The guideline value for Padmanabha Street has seen several revisions over the years. In 2002, the guideline value was Rs 1,875 per sq.ft, which increased to Rs 2,081 per sq.ft in 2003, marking an increase of 11%. Following this, the value rose to Rs 3,000 per sq.ft in 2007, reflecting a 44% increase. The value then saw a significant rise to Rs 6,000 per sq.ft in 2012, which was a 100% increase from the previous revision. However, in 2017, the value dropped to Rs 4,020 per sq.ft, representing a decrease of 33%. The guideline value then increased to Rs 6,000 per sq.ft in 2023, and finally to Rs 6,600 per sq.ft in 2024, marking a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 252%. There are no figures available for the revisions in years other than those specified.

Guideline values in Tnagar

In Tnagar village, there are 262 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value for these streets is Rs 11,000 per sq.ft, placing Padmanabha Street's 2024 figure below that median.

• North Giriappa Road: Rs 8,800 per sq.ft (2024)
• North Dhandapani Street / Dhandapani Street: Rs 13,200 per sq.ft (2024)
• North Boag Road(2nd Cross Street, 2nd Lane): Rs 11,000 per sq.ft (2024)
• North Boag Road: Rs 11,000 per sq.ft (2024)
• Parthasarathy Puram III Rd Street: Rs 5,500 per sq.ft (2024)
• Parthasarathy Puram II Nd Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Padmanabha Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total cost for these fees to Rs 5,94,000. Please note that the 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 further calculations.

Which Sub Registrar Office covers Padmanabha Street?

The Sub Registrar Office that covers Padmanabha Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Tnagar. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is documented accurately.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory charges during the registration process. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Padmanabha Street?

The current guideline value of Padmanabha Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, increasing from Rs 1,875 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, which is a total increase of 252% over the years.

What are the other guideline values in Tnagar?

In Tnagar, the guideline values range from Rs 4,400 to Rs 27,500 per sq.ft, with the median value being Rs 11,000 per sq.ft. Padmanabha Street's guideline value is below this median.

What fees are associated with buying property in Padmanabha Street?

When buying property in Padmanabha Street, you will incur stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

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

The Thiyagaraya nagar Sub Registrar Office covers Padmanabha Street and is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.