Guideline Value for Padmavathi Nagar Vistharipu

Padmavathi Nagar Vistharipu guideline value

The current guideline value of Padmavathi Nagar Vistharipu is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Thirumullaivoyal village and falls under the Ambattur SRO, classified as Residential Class III Type - I.

How the guideline value of Padmavathi Nagar Vistharipu has changed

Since the 2002 revision, the guideline value has seen significant changes. In 2002, the value was Rs 139 per sq.ft, which increased to Rs 175 per sq.ft in 2003, marking a 26% rise. The value continued to rise to Rs 200 per sq.ft in 2007, a 14% increase from the previous revision. The 2012 revision saw a substantial jump to Rs 1,500 per sq.ft, reflecting a 650% increase from 2007. Finally, the most recent 2024 revision set the value at Rs 1,600 per sq.ft, a 7% increase from 2012.

Overall, from 2002 to 2024, the guideline value has increased by 1051%. It is important to note that the register has no figures for the years 2017 and 2023 for this street.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Padmavathi Nagar Vistharipu's 2024 figure below that median.

• Padmavathi Srinivasan Nagar: Rs 1,900 per sq.ft (2024)
• Padmavathi Nagar: Rs 1,600 per sq.ft (2024)
• Pachaiyamman Nagar: Rs 1,900 per sq.ft (2024)
• Pachaiamman Street Devi nagar: Rs 2,400 per sq.ft (2024)
• Pallavan 1st St. (Cholan Nagar): Rs 1,600 per sq.ft (2024)
• Pallavan 2nd St. (Cholan Nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathi Nagar Vistharipu

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathi Nagar Vistharipu?

The Sub Registrar Office covering Padmavathi Nagar Vistharipu 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 Thirumullaivoyal

The guideline value plays a crucial role when buying or selling property in Thirumullaivoyal. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. This value helps in establishing a legal framework for property transactions in the area.

Frequently asked questions

What is the current guideline value of Padmavathi Nagar Vistharipu?

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

How has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 139 per sq.ft to Rs 1,600 per sq.ft in 2024, showing an overall increase of 1051%.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would be Rs 1,44,000.

Which Sub Registrar Office covers this area?

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

What is the land classification of Padmavathi Nagar Vistharipu?

Padmavathi Nagar Vistharipu is classified as Residential Class III Type - I, which indicates its suitability for residential development.