Guideline Value for Padmavathi Nagar 1 & 2

Padmavathi Nagar 1 & 2 guideline value

The current guideline value of Padmavathi Nagar 1 & 2 is Rs 1,500 per sq.ft, effective from the 2024 revision. This area is located in Nandhivaram village and falls under the Gooduvancheri SRO. The land classification for this locality is Residential Special Type - I.

How the guideline value of Padmavathi Nagar 1 & 2 has changed

The guideline value for Padmavathi Nagar 1 & 2 has seen several revisions over the years. In 2002, the value was Rs 105 per sq.ft, which increased significantly to Rs 328 per sq.ft in 2007. The following revision in 2012 saw the value rise to Rs 1,500 per sq.ft, marking a substantial increase of 357%. However, in 2017, the value dropped to Rs 1,005 per sq.ft, a decrease of 33%. The most recent revisions in 2023 and 2024 have maintained the value at Rs 1,500 per sq.ft, showing no change between these two years.

It is important to note that there is no figure available for the year 2003 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1329%, reflecting significant changes in the property landscape.

Guideline values in Nandhivaram

Nandhivaram has a total of 169 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, which is equal to the current guideline value for Padmavathi Nagar 1 & 2.

• Padmavathi Nagar Extn. 1 & 2: Rs 1,500 per sq.ft (2024)
• Padma Avenue: Rs 1,000 per sq.ft (2024)
• Omsakthi Nagr: Rs 1,000 per sq.ft (2024)
• Om Sakthi Nagar: Rs 1,500 per sq.ft (2024)
• N.R.S. Nagar: Rs 1,500 per sq.ft (2024)
• N.P.R. Nagar: Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathi Nagar 1 & 2

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathi Nagar 1 & 2?

The Sub Registrar Office that covers Padmavathi Nagar 1 & 2 is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process for property transactions in Nandhivaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Padmavathi Nagar 1 & 2?

The current guideline value of Padmavathi Nagar 1 & 2 is Rs 1,500 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 105 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, with various revisions in between reflecting increases and decreases.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,35,000, based on the guideline value of Rs 15,00,000.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located on Defence Colony Road, near the Veterinary Hospital in Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.

What is the land classification for Padmavathi Nagar 1 & 2?

The land classification for Padmavathi Nagar 1 & 2 is Residential Special Type - I, indicating its suitability for residential purposes.