Guideline Value for PADMAVATHI NAGAR

Padmavathi Nagar guideline value

The current guideline value of Padmavathi Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Nemilancheri village and falls under the Avadi SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Padmavathi Nagar has changed

The guideline value for Padmavathi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which was then reduced to Rs 469 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 700 per sq.ft, and the most recent 2024 revision has further increased it to Rs 770 per sq.ft, marking a 10% increase from the previous year.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, while it decreased by 33% from 2012 to 2017. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nemilancheri

In Nemilancheri, there are 15 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 1,870 per sq.ft. The median guideline value for these streets is Rs 990 per sq.ft, making Padmavathi Nagar's 2024 figure below this median.

• P Dot G Flora: Rs 1,300 per sq.ft (2024)
• Mullai Nagar: Rs 660 per sq.ft (2024)
• M.T.H Road: Rs 1,870 per sq.ft (2024)
• Mahadevan Nagar: Rs 770 per sq.ft (2024)
• Sri Devi Nagar: Rs 660 per sq.ft (2024)
• Sri Devi Nagar Annexe: Rs 660 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 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, making the total cost for these fees Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathi Nagar?

The Sub Registrar Office that covers Padmavathi Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nemilancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with the official valuation set by the government.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Padmavathi Nagar?

The current guideline value of Padmavathi Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the median guideline value in Nemilancheri?

The median guideline value for the 15 streets in Nemilancheri under the Avadi SRO is Rs 990 per sq.ft.

What are the stamp duty and registration fees for properties in Padmavathi Nagar?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 69,300, based on a guideline value of Rs 7,70,000.

Which office handles registrations for Padmavathi Nagar?

The Avadi Sub Registrar Office handles registrations for Padmavathi Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.