Guideline Value for PADMAVATHI NAGAR 3RD STREET

Padmavathi Nagar 3rd Street guideline value

The current guideline value of Padmavathi Nagar 3rd Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Karambakkam village under the Chennai South Joint I SRO, classified as Residential Class IV Type - I.

How the guideline value of Padmavathi Nagar 3rd Street has changed

The guideline value for Padmavathi Nagar 3rd Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 1,500 per sq.ft. In 2017, this value decreased to Rs 1,005 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, representing a 49% rise. The most recent revision in 2024 saw an increase to Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for Padmavathi Nagar 3rd Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 1,930 per sq.ft, placing Padmavathi Nagar 3rd Street's 2024 figure below that median.

• Padmavathi Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Padmavathi Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• Pathmavathy Nagar / Streets: Rs 1,650 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,650 per sq.ft (2024)
• Ponniamman Avenue: Rs 1,930 per sq.ft (2024)
• Ponni Nagar: Rs 1,930 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathi Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Padmavathi Nagar 3rd Street?

The Sub Registrar Office that covers Padmavathi Nagar 3rd Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Karambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value during negotiations to ensure compliance with local regulations.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Padmavathi Nagar 3rd Street?

The current guideline value of Padmavathi Nagar 3rd Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with notable fluctuations in between, including a decrease to Rs 1,005 per sq.ft in 2017 and an increase to Rs 1,500 per sq.ft in 2023.

What are the other streets in Karambakkam with similar guideline values?

Other streets in Karambakkam, such as Padmavathi Nagar 1st Street and Padmavathi Nagar 2nd Street, also have a guideline value of Rs 1,650 per sq.ft in 2024, while Ponniamman Avenue and Ponni Nagar have higher values at Rs 1,930 per sq.ft.

Where can I find the Sub Registrar Office for Padmavathi Nagar 3rd Street?

The Sub Registrar Office for Padmavathi Nagar 3rd Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Padmavathi Nagar 3rd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.