Guideline Value for Padmavathi Nagar

Padmavathi Nagar guideline value

The current guideline value of Padmavathi Nagar is Rs 1,000 per sq.ft. This area is located in Melakottyur village and falls under the Gooduvancheri SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Padmavathi Nagar has changed

The guideline value has undergone several revisions over the years. In 2012, the guideline value was Rs 1,000 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft, marking a decline of 33%. However, in the 2023 revision, the value increased to Rs 1,000 per sq.ft, resulting in a 49% increase from the 2017 figure.

Overall, from the 2012 revision to the 2023 revision, the guideline value has remained constant at Rs 1,000 per sq.ft. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2024 for this street.

Guideline values in Melakottyur

Currently, there are no specific village figures available for Melakottyur. Padmavathi Nagar is part of this village, and there are no other streets in Melakottyur under the Gooduvancheri SRO listed.

Stamp duty and registration fee for property in Padmavathi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty is charged at 7%, resulting in Rs 70,000, while the registration fee at 2% amounts to Rs 20,000. Together, the total fees would be Rs 90,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padmavathi Nagar?

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

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

The guideline value is a crucial factor when buying or selling property in Melakottyur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is compared to the sale price. The higher of the two amounts will be used to calculate the applicable duties. 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 Padmavathi Nagar?

The current guideline value of Padmavathi Nagar is Rs 1,000 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, and then back to Rs 1,000 per sq.ft in 2023. This represents a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017.

What are the stamp duty and registration fees in Padmavathi Nagar?

The stamp duty in Padmavathi Nagar is 7%, while the registration fee is 2%. For a property valued at Rs 10,00,000, the total fees would amount to Rs 90,000.

Which Sub Registrar Office should I visit for Padmavathi Nagar?

The Gooduvancheri Sub Registrar Office covers Padmavathi Nagar. It is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone.

Are there other streets in Melakottyur with guideline values?

Currently, there are no other streets in Melakottyur under the Gooduvancheri SRO listed with guideline values.