Guideline Value for Padmanaba Nagar 1st Street

Padmanaba Nagar 1st Street guideline value

The current guideline value of Padmanaba Nagar 1st Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Urur village under the Adayar SRO, classified as Residential Class I Type - I.

How the guideline value of Padmanaba Nagar 1st Street has changed

The guideline value for Padmanaba Nagar 1st Street has undergone several revisions over the years. In 2012, the value was Rs 7,000 per sq.ft, which decreased to Rs 4,690 per sq.ft in 2017. Following this, the value increased significantly to Rs 7,000 per sq.ft in 2023 and further rose to Rs 7,700 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Urur

In Urur, there are 176 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 15,400 per sq.ft, with a median value of Rs 6,600 per sq.ft. Padmanaba Nagar 1st Street's guideline value is above this median.

• Padmanaba Nagar 2nd Street: Rs 7,700 per sq.ft (2024)
• Padmanaba Nagar 3rd Street: Rs 7,700 per sq.ft (2024)
• Padmanaba Nagar 4th Street: Rs 7,700 per sq.ft (2024)
• Padmanaba Nagar 5th Street: Rs 7,700 per sq.ft (2024)
• Parameshwari Nagar 1st Street: Rs 6,600 per sq.ft (2024)
• Parameshwari Nagar 1st Street Extension: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Padmanaba Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, making the total Rs 6,93,000. Duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padmanaba Nagar 1st Street?

The Padmanaba Nagar 1st Street is covered by the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Urur. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Padmanaba Nagar 1st Street?

The current guideline value of Padmanaba Nagar 1st Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 7,000 per sq.ft in 2012 to Rs 4,690 per sq.ft in 2017, then to Rs 7,000 per sq.ft in 2023, and finally to Rs 7,700 per sq.ft in 2024.

What is the land classification for Padmanaba Nagar 1st Street?

Padmanaba Nagar 1st Street is classified as Residential Class I Type - I.

What are the other streets in Urur with the same guideline value?

Other streets in Urur with the same guideline value of Rs 7,700 per sq.ft include Padmanaba Nagar 2nd Street, Padmanaba Nagar 3rd Street, Padmanaba Nagar 4th Street, and Padmanaba Nagar 5th Street.

Where can I find the Sub Registrar Office for Padmanaba Nagar 1st Street?

The Sub Registrar Office covering Padmanaba Nagar 1st Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.