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 area is located in Singlikuppam 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 increased by 50% to Rs 350 per sq.ft in the 2023 revision, which remained unchanged in the 2024 revision. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2024, the overall increase in guideline value is also 50%. The 2024 figure of Rs 350 per sq.ft is significant as it is above the median guideline value of Rs 293 per sq.ft for the four streets in Singlikuppam under the Arani_Tiruvallur SRO.

Guideline values in Singlikuppam

In Singlikuppam, the guideline values for 2024 range from Rs 250 to Rs 350 per sq.ft. Padmavathi Nagar's value is at the higher end of this range. Below are the guideline values for other streets in Singlikuppam:

• Sri Sai Garden: Rs 250 per sq.ft (2024)
• Ark Avenue: Rs 250 per sq.ft (2024)
• அன்னை கோமதி நகர்: 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 guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total to Rs 31,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padmavathi Nagar?

The Sub Registrar Office covering Padmavathi Nagar is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri(tk), Thiruvallur(dt) - 601 101. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Singlikuppam. It determines the amount of stamp duty and registration fees that buyers must pay when acquiring property.

When selling property, the guideline value helps establish a baseline for the sale price, ensuring that the transaction is registered at a value that reflects the official rates set by the government. This process is essential for legal compliance and proper documentation.

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 has seen an increase from Rs 234 per sq.ft in 2017 to Rs 350 per sq.ft in both the 2023 and 2024 revisions, marking a 50% increase overall from 2017 to 2024.

What are the guideline values for other streets in Singlikuppam?

Other streets in Singlikuppam have guideline values ranging from Rs 250 to Rs 335 per sq.ft for 2024. Padmavathi Nagar's value is higher than the median of Rs 293 per sq.ft for the area.

What fees are associated with buying property in Padmavathi Nagar?

When buying property in Padmavathi Nagar, buyers must pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Padmavathi Nagar located?

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