Guideline Value for Padavetamman Nagar

Padavetamman Nagar guideline value

The current guideline value of Padavetamman Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Chembarambakkam village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Padavetamman Nagar has changed

The guideline value for Padavetamman Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft from the 2024 revision. The register has no figure for the years 2002, 2003, and 2007.

From 2017 to 2023, the value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Chembarambakkam

In Chembarambakkam, there are 64 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 4,000 per sq.ft. The median value is Rs 1,100 per sq.ft, which is equal to the current guideline value of Padavetamman Nagar.

• Om Paragadeeswarar Nagar: Rs 1,100 per sq.ft (2024)
• Olympia Mithila: Rs 2,800 per sq.ft (2024)
• Patel Street: Rs 878 per sq.ft (2024)
• Patel Street 97/4c,4i,4j,5,6,7,8,9,10: Rs 878 per sq.ft (2024)
• Pattammal Nagar: Rs 1,540 per sq.ft (2024)
• Peeraiyampathu Arijana Colony: Rs 878 per sq.ft (2024)

Stamp duty and registration fee for property in Padavetamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 more details.

Which Sub Registrar Office covers Padavetamman Nagar?

The Sub Registrar Office that covers Padavetamman Nagar is 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 Chembarambakkam

The guideline value is a crucial factor during the registration of property transactions in Chembarambakkam. It determines the minimum value at which the property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the current guideline value, as it affects the overall cost of the transaction. Buyers and sellers should consider this value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Padavetamman Nagar?

The current guideline value of Padavetamman Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft from 2024.

What is the land classification for Padavetamman Nagar?

Padavetamman Nagar is classified as Residential Class II Type - I.

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

The Sub Registrar Office for Padavetamman Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is stamp duty calculated for properties in Padavetamman Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.