Guideline Value for Padmanaba Nagar

Padmanaba Nagar guideline value

The current guideline value of Padmanaba Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Puthagaram village under the Ambattur SRO, classified as Residential Class II Type - I.

How the guideline value of Padmanaba Nagar has changed

The guideline value for Padmanaba Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and further rose by 7% to the current rate of Rs 1,600 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%. However, the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 7%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Puthagaram

Puthagaram village has a total of 140 streets under the Ambattur SRO, with guideline values ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median guideline value in the village is Rs 1,900 per sq.ft, making Padmanaba Nagar's current value below that median.

• Padma Nagar: Rs 1,800 per sq.ft (2024)
• Padma Nagar Extn.: Rs 1,800 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 Padmanaba Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padmanaba Nagar?

The Sub Registrar Office covering Padmanaba 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 essential for property transactions in Puthagaram, as it determines the minimum price at which a property can be registered. It is used to calculate the stamp duty and registration fees that are payable during the registration process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value recognized by the government, which helps in maintaining transparency and fairness in property dealings. It is crucial for both buyers and sellers to understand these values to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Padmanaba Nagar?

The current guideline value of Padmanaba Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification of Padmanaba Nagar?

Padmanaba Nagar is classified as Residential Class II Type - I according to the guidelines set by the Ambattur SRO.

What are the stamp duty and registration fees for properties in Padmanaba Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 16,00,000, the total fees would be Rs 1,44,000.

Where is the Sub Registrar Office for Padmanaba Nagar located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.