Guideline Value for Padmavadhi Nagar

Padmavadhi Nagar guideline value

The current guideline value of Padmavadhi Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Zaminpallavaram village and falls under the Pallavaram SRO with a land classification of Residential Class II Type - I.

How the guideline value of Padmavadhi Nagar has changed

The guideline value for Padmavadhi Nagar has seen several revisions over the years. The earliest recorded figure is from 2003, where the guideline value was Rs 155 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2007, marking a rise of 287%. In 2012, it rose to Rs 2,500 per sq.ft, reflecting an increase of 317%. However, in 2017, the value dropped to Rs 1,675 per sq.ft, a decrease of 33%. The guideline value then increased to Rs 2,500 per sq.ft in 2023, and most recently, it has risen to Rs 2,750 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1,674%. The register has no figure for this street for the year 2002.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Padmavadhi Nagar is below this median.

• Pachiappan Koil Street: Rs 2,160 per sq.ft (2024)
• Pachaiyappan Nagar Cross Street: Rs 2,160 per sq.ft (2024)
• Pachaiyappan Koil Street: Rs 2,160 per sq.ft (2024)
• Pachaiyappan Colony Extn.: Rs 2,160 per sq.ft (2024)
• Pachaiyappan Colony Eri Side St.: Rs 2,160 per sq.ft (2024)
• Pachaiyappan Colony 4th Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavadhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padmavadhi Nagar?

The Sub Registrar Office that covers Padmavadhi 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 additional information.

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

The guideline value plays a crucial role when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure that the transaction complies with the regulations set by the local authorities.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Padmavadhi Nagar?

The current guideline value of Padmavadhi Nagar is Rs 2,750 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 155 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 1,674% over this period.

What is the registration fee for property in Padmavadhi Nagar?

The registration fee for property in Padmavadhi Nagar is 2% of the guideline value. For a property valued at Rs 27,50,000, the registration fee would be Rs 55,000.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is used as a benchmark for determining the minimum price for property registration. It ensures that the stamp duty and registration fees are calculated accurately based on either the guideline value or the sale price, whichever is higher.