Guideline Value for PADMINI NAGAR

Padmini Nagar guideline value

The current guideline value of Padmini Nagar, located in Periyakuppam village, is Rs 879 per sq.ft. This value is effective from the 2024 revision conducted by the Tiruvallur Joint 1 SRO. The land classification for this area is Residential Special Type - IV.

How the guideline value of Padmini Nagar has changed

The guideline value for Padmini Nagar has seen several revisions over the years. In 2012, the value was Rs 800 per sq.ft. This figure decreased to Rs 536 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 800 per sq.ft, followed by another increase to Rs 879 per sq.ft in 2024, reflecting a change of 10% from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Periyakuppam

Within Periyakuppam, there are 105 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Padmini Nagar's 2024 value below this median.

• Pakthavachalam Street: Rs 1,650 per sq.ft (2024)
• Pallavan Street: Rs 1,100 per sq.ft (2024)
• Om Ganesh Nagar: Rs 879 per sq.ft (2024)
• Parimelagar Street: Rs 1,100 per sq.ft (2024)
• N.G.G.O.Colony: Rs 1,100 per sq.ft (2024)
• New. N.G.G.O. Colony: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Padmini Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 879 per sq.ft, the total guideline value would be Rs 8,79,000. The stamp duty at 7% would amount to Rs 61,530, while the registration fee at 2% would be Rs 17,580. Together, the total cost for these fees would be Rs 79,110. 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 precise calculations.

Which Sub Registrar Office covers Padmini Nagar?

Padmini Nagar falls under the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Periyakuppam. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. Buyers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to refer to the current guideline value to ensure compliance with local regulations. This value is regularly updated to reflect changes in the real estate market and local conditions.

Frequently asked questions

What is the current guideline value of Padmini Nagar?

The current guideline value of Padmini Nagar is Rs 879 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 879 per sq.ft in 2024.

What is the land classification for Padmini Nagar?

The land classification for Padmini Nagar is Residential Special Type - IV.

Which Sub Registrar Office covers Padmini Nagar?

Padmini Nagar is covered by the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

How is the stamp duty calculated for property in Padmini Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 61,530.