Guideline Value for Padmanaba Nagar

Padmanaba Nagar guideline value

The current guideline value of Padmanaba Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village under the Pallavaram SRO, classified as Mixed Type - I land.

How the guideline value of Padmanaba Nagar has changed

The guideline value for Padmanaba Nagar has seen several revisions over the years. In 2007, the value was set at Rs 700 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 471%. However, from 2012 to 2017, it decreased by 33% to Rs 2,680 per sq.ft. The value then rose again to Rs 4,000 per sq.ft in 2023, a 49% increase from the previous revision. The latest revision for 2024 has set the guideline value at Rs 4,400 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that there are no registered figures for Padmanaba Nagar in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 529%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, positioning Padmanaba Nagar above this median.

• Padmanabha 1 To 3 Streets: Rs 4,400 per sq.ft (2024)
• Padmanabha Nagar Nalvar Street: Rs 4,400 per sq.ft (2024)
• Padmanban Street: Rs 2,970 per sq.ft (2024)
• Pachaiyappan Nagar: Rs 1,650 per sq.ft (2024)
• N.S.R.Road: Rs 2,970 per sq.ft (2024)
• North Mosque Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Padmanaba Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 further calculations.

Which Sub Registrar Office covers Padmanaba Nagar?

The Sub Registrar Office that covers Padmanaba Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Hastinapuram. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations during the registration process. Accurate knowledge of these values can help in better planning for property transactions.

Frequently asked questions

What is the current guideline value of Padmanaba Nagar?

The current guideline value of Padmanaba Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 700 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 529%.

What is the registration office for Padmanaba Nagar?

The registration office for Padmanaba Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Padmanaba Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 3,08,000.

What other streets have similar guideline values in Hastinapuram?

Other streets in Hastinapuram with similar guideline values include Padmanabha 1 To 3 Streets and Padmanabha Nagar Nalvar Street, both at Rs 4,400 per sq.ft as of 2024.