Guideline Value for Padmavathi Nagar

Padmavathi Nagar guideline value

The current guideline value of Padmavathi Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Kolapakkam village, under the Pammal Sub Registrar Office (SRO). The land classification for this street is Residential Class I Type - I.

How the guideline value of Padmavathi Nagar has changed

The guideline value of Padmavathi Nagar has seen significant changes over the years. In 2017, the value was Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in 2023, marking a 49% rise. The current revision in 2024 has set the value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 6,850 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making Padmavathi Nagar's 2024 figure above the median.

• Ottravadai Street (ward 7): Rs 1,650 per sq.ft (2024)
• Ottravadai Street (ward 6): Rs 1,650 per sq.ft (2024)
• Pallavaram Main Road (ward 6): Rs 2,200 per sq.ft (2024)
• Nutech Inscape: Rs 3,080 per sq.ft (2024)
• Pattammal Nagar: Rs 1,650 per sq.ft (2024)
• Nehru Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padmavathi Nagar?

The Pammal Sub Registrar Office covers Padmavathi Nagar. The office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kolapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When you buy or sell property, the guideline value helps ensure that the transaction is recorded accurately and fairly, reflecting the official value set by the Registration Department. This value is essential for both buyers and sellers to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Padmavathi Nagar?

The current guideline value of Padmavathi Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,750 per sq.ft in 2024. This represents an overall increase of 64% over the seven years.

What is the land classification of Padmavathi Nagar?

Padmavathi Nagar is classified as Residential Class I Type - I, indicating its designation for residential purposes.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How do stamp duty and registration fees work in Padmavathi Nagar?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 2,47,500.