Guideline Value for PADMAVATHI NAGAR

Padmavathi Nagar guideline value

The current guideline value of Padmavathi Nagar in Naalur village is Rs 600 per sq.ft, effective from 1 July 2024. This area falls under the Ponneri Sub Registrar Office (SRO) and is classified as Residential Special Type - I.

How the guideline value of Padmavathi Nagar has changed

In the 2012 revision, the guideline value was set at Rs 500 per sq.ft. This value decreased to Rs 402 per sq.ft in the 2017 revision, marking a change of -20%. However, from 2017 to 2023, the value increased significantly to Rs 600 per sq.ft, a rise of 49%. The 2023 revision maintained the same value of Rs 600 per sq.ft, which has now carried over into the 2024 revision.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 20% from 2012 to 2024.

Guideline values in Naalur

In Naalur village, there are 23 streets under the Ponneri SRO with a 2024 guideline value ranging from Rs 400 to Rs 600 per sq.ft. The median value for these streets is Rs 400 per sq.ft, making Padmavathi Nagar's 2024 figure above that median.

• Om Sakthi Naagr: Rs 400 per sq.ft (2024)
• Muthaiyah Garden: Rs 400 per sq.ft (2024)
• M.K.N. Nagar: Rs 500 per sq.ft (2024)
• Minjur Modern City: Rs 400 per sq.ft (2024)
• Ramachandira Nagar: Rs 400 per sq.ft (2024)
• M G M Anandha Nagar: Rs 400 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 of Rs 600 per sq.ft, the guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padmavathi Nagar?

The Padmavathi Nagar area is covered by the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is an important factor during the registration of property transactions in Naalur. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable duties, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. It is crucial for potential buyers and sellers to be informed about 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 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 500 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then rising to Rs 600 per sq.ft in 2023 and remaining the same in 2024.

What is the land classification of Padmavathi Nagar?

Padmavathi Nagar is classified as Residential Special Type - I under the Ponneri SRO.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated in Padmavathi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 6,00,000 would incur a stamp duty of Rs 42,000 at 7%.