Guideline Value for PADMAVATHI STREET

Padmavathi Street guideline value

The current guideline value of Padmavathi Street is Rs 2,160 per sq.ft. This street is located in Nemilicherry village, under the Pallavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Padmavathi Street has changed

The guideline value for Padmavathi Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following that, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision has established the current value at Rs 2,160 per sq.ft.

Between the revisions, there have been notable changes. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows an increase of 8%.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value is Rs 2,160 per sq.ft, which is equal to the current guideline value of Padmavathi Street.

• Padmanabhan Street: Rs 2,160 per sq.ft (2024)
• Om Sakthi Nagar II: Rs 2,750 per sq.ft (2024)
• Om Sakthi Nagar: Rs 2,750 per sq.ft (2024)
• Pallavan Trasport Colony: Rs 2,160 per sq.ft (2024)
• Panchayat Market Colony Lane: Rs 1,100 per sq.ft (2024)
• Panchayat Market Colony Road: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, totaling Rs 1,94,400. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padmavathi Street?

The Sub Registrar Office that covers Padmavathi Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor used during the registration of property transactions in Nemilicherry. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the market conditions. Buyers and sellers should be aware of the guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Padmavathi Street?

The current guideline value of Padmavathi Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,160 per sq.ft in 2024.

What is the land classification of Padmavathi Street?

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

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

The Sub Registrar Office for Padmavathi Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 21,60,000, the stamp duty would be Rs 1,51,200 at 7%.