Guideline Value for Padmavathi Nagar Main Salai

Padmavathi Nagar Main Salai guideline value

The current guideline value of Padmavathi Nagar Main Salai is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Padmavathi Nagar Main Salai has changed

The guideline value for Padmavathi Nagar Main Salai has seen revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft. With the latest revision in 2024, the guideline value increased to Rs 3,850 per sq.ft, marking a change of +10% from the 2012 figure.

There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street. Thus, the only revisions recorded are from 2012 and 2024.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft as of 2024. The median value for these streets is Rs 4,400 per sq.ft, indicating that the guideline value for Padmavathi Nagar Main Salai is below this median.

• Padmavathi Nagar V.O.C Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Padmavathi Nagar V.O.C. Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Padmavathi Nagar V.O.C. Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Padmavathi Nagar Extn Main Road: Rs 3,850 per sq.ft (2024)
• Padmavathi Nagar Extn Main 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Padmavathi Nagar Extn/Azhagappa Nagar (Anna University): Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathi Nagar Main Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000. Therefore, the total cost for stamp duty and registration fees together would be Rs 3,46,500. 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 more precise calculations.

Which Sub Registrar Office covers Padmavathi Nagar Main Salai?

The Sub Registrar Office that covers Padmavathi Nagar Main Salai is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Velachery. It serves as a baseline for calculating stamp duty and registration fees, ensuring that these charges reflect the property's value as determined by the government.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This ensures transparency in the transaction process and helps in determining the appropriate fees payable at the time of registration.

Frequently asked questions

What is the current guideline value of Padmavathi Nagar Main Salai?

The current guideline value of Padmavathi Nagar Main Salai is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 3,500 per sq.ft in 2012 to Rs 3,850 per sq.ft in 2024, which is a change of +10%.

Are there any years without guideline values for this street?

Yes, there are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for Padmavathi Nagar Main Salai.

What are the guideline values for other streets in Velachery?

Other streets in Velachery have guideline values ranging from Rs 3,850 per sq.ft, similar to Padmavathi Nagar Main Salai, to higher values in the area.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.