Guideline Value for PADMINI NAGAR

Padmini Nagar guideline value

The current guideline value of Padmini Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Venmanamputhur village and falls under the Tiruvallur Joint 1 SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Padmini Nagar has changed

Over the years, the guideline value of Padmini Nagar has undergone several revisions. The earliest recorded figure is from 2012, which was Rs 200 per sq.ft. In 2017, the value dropped to Rs 134 per sq.ft, reflecting a decrease of 33%. However, by 2023, the value had increased to Rs 200 per sq.ft, marking a significant rise of 49% from the 2017 figure. The 2024 revision maintains this value at Rs 200 per sq.ft, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. The overall change from 2012 to 2024 is 0%, indicating that the guideline value has returned to its 2012 level after fluctuations in the intervening years.

Guideline values in Venmanamputhur

In Venmanamputhur, there are 54 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 400 per sq.ft, with the median being Rs 200 per sq.ft. Padmini Nagar's 2024 figure aligns with this median.

• Oviya Nagar-123/2b2: Rs 250 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 200 per sq.ft (2024)
• M.E. Nagar (S.No.179/1.2): Rs 200 per sq.ft (2024)
• Masila Mani Nagar: Rs 200 per sq.ft (2024)
• Rayala Nagar(S.No.80/1a): Rs 250 per sq.ft (2024)
• Manickam Nagar: Rs 200 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 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

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. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Venmanamputhur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Padmini Nagar?

The current guideline value of Padmini Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen fluctuations, with the most recent revision in 2024 maintaining it at Rs 200 per sq.ft. The value dropped to Rs 134 per sq.ft in 2017 before rising again to Rs 200 per sq.ft in 2023.

What is the land classification of Padmini Nagar?

Padmini Nagar is classified as Residential Class II Type - II. This classification is important for understanding the zoning and permissible uses of the land.

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

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Padmini Nagar?

The Tiruvallur Joint 1 Sub Registrar Office handles registrations for Padmini Nagar, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.