Guideline Value for Padmavathi Nagar Extn. 1 & 2

Padmavathi Nagar Extn. 1 & 2 guideline value

The current guideline value for Padmavathi Nagar Extn. 1 & 2 is Rs 1,500 per sq.ft. This area is located in Nandhivaram village, under the Gooduvancheri SRO, and is classified as Residential Special Type - I.

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

The guideline value for Padmavathi Nagar Extn. 1 & 2 has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 105 per sq.ft, which increased significantly to Rs 328 per sq.ft in 2007, marking a 212% rise. The 2012 revision saw the value reaching Rs 1,500 per sq.ft, a substantial increase of 357%. However, by 2017, the value dropped to Rs 1,005 per sq.ft, showing a decrease of 33%. The subsequent revisions in 2023 and 2024 maintained the guideline value at Rs 1,500 per sq.ft, reflecting no change from the previous year.

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

Guideline values in Nandhivaram

Nandhivaram village has a total of 169 streets under the Gooduvancheri SRO with 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 the same as the current guideline value for Padmavathi Nagar Extn. 1 & 2.

• Padmavathi Nagar 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 Extn. 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 more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathi Nagar Extn. 1 & 2?

The Sub Registrar Office that covers Padmavathi Nagar Extn. 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Nandhivaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in the buying and selling process.

When you buy or sell property, the guideline value influences the stamp duty and registration fees that are applicable. Buyers should be aware that these costs are calculated based on the guideline value or the sale price, whichever is higher, to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value for Padmavathi Nagar Extn. 1 & 2?

The current guideline value for Padmavathi Nagar Extn. 1 & 2 is Rs 1,500 per sq.ft, effective from July 1, 2024.

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, reflecting an overall increase of 1329% over this period.

What is the role of the Gooduvancheri SRO?

The Gooduvancheri SRO is responsible for the registration of properties in Nandhivaram village, including Padmavathi Nagar Extn. 1 & 2. It ensures that all property transactions comply with local regulations.

What are the stamp duty rates for properties in Padmavathi Nagar Extn. 1 & 2?

The stamp duty for properties in Padmavathi Nagar Extn. 1 & 2 is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find more information about registration fees?

For detailed calculations on stamp duty and registration fees, you can use the stamp duty and registration fee calculator.