Guideline Value for PADMAVATHY NAGAR

Padmavathy Nagar guideline value

The current guideline value of Padmavathy Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024. This area falls under Kosappur village and is classified as Residential Special Type - II, governed by the Thiruvottiyur SRO.

How the guideline value of Padmavathy Nagar has changed

Over the years, the guideline value of Padmavathy Nagar has seen significant changes. The 2007 revision recorded a value of Rs 100 per sq.ft, which increased to Rs 300 per sq.ft in 2012. However, from 2012 to 2017, the value decreased by 33% to Rs 201 per sq.ft. The most notable change occurred between 2017 and 2023, where the value surged by 399% to Rs 1,002 per sq.ft, a figure that remained unchanged in the 2024 revision.

The register has no figures for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 902%.

Guideline values in Kosappur

In Kosappur village, there are 25 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,600 per sq.ft. The median value is Rs 1,002 per sq.ft, placing Padmavathy Nagar's 2024 figure at this median level.

• Perumal Koil Street: Rs 1,002 per sq.ft (2024)
• Rajesh Nagar: Rs 1,002 per sq.ft (2024)
• Sai Baba Nagar: Rs 1,002 per sq.ft (2024)
• Madha Nagar: Rs 1,002 per sq.ft (2024)
• Krishna Nagar/ Ext: Rs 1,002 per sq.ft (2024)
• Sowbaghiya Nagar: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,002 per sq.ft, the total guideline value would be Rs 10,02,000. The stamp duty at 7% would amount to Rs 70,140, while the registration fee at 2% would be Rs 20,040. Together, the total cost for duty and registration would be Rs 90,180. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padmavathy Nagar?

The Sub Registrar Office that covers Padmavathy Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kosappur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and legally.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar?

The current guideline value of Padmavathy Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 100 per sq.ft in 2007 to Rs 1,002 per sq.ft in 2024, marking an overall increase of 902%.

Which Sub Registrar Office covers Padmavathy Nagar?

The Thiruvottiyur Sub Registrar Office covers Padmavathy Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What are the stamp duty and registration fees for property in Padmavathy Nagar?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a plot of 1,000 sq.ft, the total cost for duty and registration would be Rs 90,180.

What is the land classification of Padmavathy Nagar?

Padmavathy Nagar is classified as Residential Special Type - II, which is significant for determining its guideline value and usage regulations.