Guideline Value for PADMAVATHI NAGAR

Padmavathi Nagar guideline value

The current guideline value of Padmavathi Nagar is Rs 1,925 per sq.ft, effective from 1 July 2024. This area is located in Vayallanallur_b village under the Poonamallee SRO, classified as Commercial Class I Type - I.

How the guideline value of Padmavathi Nagar has changed

The guideline value for Padmavathi Nagar has undergone several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 1,750 per sq.ft, which increased by 10% to Rs 1,925 per sq.ft in the 2024 revision.

This increase reflects a significant change in the guideline value within a year. The 2024 figure of Rs 1,925 per sq.ft is now above the median guideline value of Rs 1,640 per sq.ft for the 27 streets in Vayallanallur_b under the Poonamallee SRO.

Guideline values in Vayallanallur_b

In Vayallanallur_b, there are 27 streets that have a guideline value for 2024, ranging from Rs 220 to Rs 3,100 per sq.ft. The guideline value of Padmavathi Nagar is higher than the median of Rs 1,640 per sq.ft. The following are the guideline values for other streets in Vayallanallur_b:

• Orr: Rs 1,650 per sq.ft (2024)
• Muthu Nagar: Rs 1,640 per sq.ft (2024)
• Muktha Samruddhi Nagar: Rs 750 per sq.ft (2024)
• Muktha Meenakshi Sundaram Nagar: Rs 750 per sq.ft (2024)
• M.S.Garden Nalleeswarar Nagar Phase -II: Rs 660 per sq.ft (2024)
• Kaviya Garden: Rs 220 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 1,925 per sq.ft, the total guideline value would be Rs 19,25,000. The stamp duty at 7% would amount to Rs 1,34,750, and the registration fee at 2% would be Rs 38,500, bringing the total to Rs 1,73,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Padmavathi Nagar?

Padmavathi Nagar falls under the jurisdiction of the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Vayallanallur_b. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value serves as a benchmark for the transaction value. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Padmavathi Nagar?

The current guideline value of Padmavathi Nagar is Rs 1,925 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,750 per sq.ft in 2023 to Rs 1,925 per sq.ft in 2024, reflecting a 10% increase. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification of Padmavathi Nagar?

Padmavathi Nagar is classified as Commercial Class I Type - I under the Poonamallee SRO.

How is the stamp duty calculated for properties in Padmavathi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value would be Rs 19,25,000, resulting in a stamp duty of Rs 1,34,750.

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

The Sub Registrar Office for Padmavathi Nagar is the Poonamallee SRO, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find more information by visiting the appropriate link.