Guideline Value for Padma Nagar

Padma Nagar guideline value

The current guideline value of Padma Nagar in Puthagaram village, under the Ambattur SRO, is Rs 1,800 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Padma Nagar has changed

Over the years, the guideline value of Padma Nagar has seen several revisions. The 2012 revision set the value at Rs 1,700 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,139 per sq.ft. The value remained at Rs 1,700 per sq.ft until the 2023 revision, which increased it to Rs 1,800 per sq.ft, marking a 6% rise. The latest revision in 2024 further confirmed this value at Rs 1,800 per sq.ft.

From 2017 to 2023, there was a significant increase of 49% in the guideline value. Overall, comparing the 2012 figure to the current 2024 value, there has been a total increase of 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Puthagaram

Puthagaram village features 140 streets under the Ambattur SRO, with 2024 guideline values ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median value for these streets is Rs 1,900 per sq.ft, which means Padma Nagar's 2024 figure is below this median.

• Padma Nagar Extn.: Rs 1,800 per sq.ft (2024)
• Padmanaba Nagar: Rs 1,600 per sq.ft (2024)
• Pandian Nagar: Rs 1,600 per sq.ft (2024)
• Pattammal Nagar: Rs 1,600 per sq.ft (2024)
• Nethaji Aveanu: Rs 1,800 per sq.ft (2024)
• Perumal Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Padma Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value amounts to Rs 18,00,000. The stamp duty at 7% would be Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, leading to a combined total of Rs 1,62,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Padma Nagar?

The Sub Registrar Office covering Padma Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Puthagaram. 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 buying or selling property, the guideline value helps both parties understand the official value of the property. This value is essential for calculating the applicable stamp duty and registration fees, which are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Padma Nagar?

The current guideline value of Padma Nagar is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2023 to Rs 1,800 per sq.ft in 2024, a 6% increase. It was Rs 1,139 per sq.ft in 2017 and Rs 1,700 per sq.ft in 2012.

What is the land classification of Padma Nagar?

Padma Nagar is classified as Residential Class I Type - II. This classification affects the guideline value and property regulations in the area.

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

For a property valued at Rs 18,00,000, the stamp duty would be Rs 1,26,000 and the registration fee would be Rs 36,000, totaling Rs 1,62,000.

Which office handles property registrations for Padma Nagar?

The Ambattur Sub Registrar Office handles property registrations for Padma Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.