Guideline Value for PADMAVATHI NAGAR

Padmavathi Nagar guideline value

The current guideline value of Padmavathi Nagar is Rs 350 per sq.ft, effective from 1 July 2024. This street is located in Oilcheri village under the Arani_Tiruvallur SRO, classified as Residential Class II Type - II.

How the guideline value of Padmavathi Nagar has changed

In the 2017 revision, the guideline value was Rs 234 per sq.ft. This figure remained unchanged in the 2023 revision, where it was also Rs 350 per sq.ft. The 2024 revision again set the guideline value at Rs 350 per sq.ft, representing a 50% increase from the 2017 figure. The register has no figure for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value saw a 50% increase, and overall, from 2017 to 2024, there has also been a 50% increase. The guideline value has remained stable between the 2023 and 2024 revisions, showing no percentage change.

Guideline values in Oilcheri

In Oilcheri village, four streets carry a 2024 guideline value ranging from Rs 335 to Rs 400 per sq.ft, with the median being Rs 350 per sq.ft. Padmavathi Nagar's 2024 figure aligns with this median.

• Gomathi Amman Nagar: Rs 400 per sq.ft (2024)
• Edan Garden: Rs 350 per sq.ft (2024)
• Annai Gomathi Nagar: Rs 335 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathi Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 3,50,000. The stamp duty at 7% amounts to Rs 24,500, and the registration fee at 2% is Rs 7,000, totaling Rs 31,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padmavathi Nagar?

The Sub Registrar Office that covers Padmavathi Nagar is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101. To find your SRO, visit find your SRO.

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

The guideline value is an essential factor during property registration in Oilcheri. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs reflect the official valuation of the property.

When you buy or sell property, the guideline value will be used to determine the applicable charges. It is crucial to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Padmavathi Nagar?

The current guideline value of Padmavathi Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 234 per sq.ft in 2017 to Rs 350 per sq.ft in both 2023 and 2024, reflecting a 50% increase overall from 2017 to 2024.

What is the land classification of Padmavathi Nagar?

Padmavathi Nagar is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

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

The Sub Registrar Office for Padmavathi Nagar is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101.

How is stamp duty calculated for properties in Padmavathi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value of Rs 3,50,000, the stamp duty would be Rs 24,500 at 7%.