Guideline Value for Padmavathi Nagar

Padmavathi Nagar guideline value

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

How the guideline value of Padmavathi Nagar has changed

The guideline value of Padmavathi Nagar has seen several revisions over the years. Starting from Rs 139 per sq.ft in 2002, it increased to Rs 175 per sq.ft in 2003, marking a rise of 26%. The value then went up significantly to Rs 200 per sq.ft in 2007, which is a 14% increase. In 2012, the value rose sharply to Rs 1,500 per sq.ft, reflecting a substantial increase of 650%. However, it decreased to Rs 1,005 per sq.ft in 2017, a drop of 33%. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, representing a 59% increase from 2017.

It is important to note that there is no figure for the year 2023 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1051%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value for this village is Rs 2,400 per sq.ft, which means Padmavathi Nagar's 2024 figure is below that median.

• Padmavathi Nagar Vistharipu: Rs 1,600 per sq.ft (2024)
• Padmavathi Srinivasan Nagar: Rs 1,900 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

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 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 Sub Registrar Office that covers Padmavathi Nagar 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 during the registration of property transactions in Thirumullaivoyal. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official value assigned to the property.

When a property is bought or sold, the guideline value helps in determining the legal obligations regarding taxation. This ensures transparency and compliance with local regulations, as the fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Padmavathi Nagar?

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

How has the guideline value changed over the years?

The guideline value has seen various revisions, starting from Rs 139 per sq.ft in 2002 and reaching Rs 1,600 per sq.ft in 2024. This reflects an overall increase of 1051% from 2002 to 2024.

What is the land classification for Padmavathi Nagar?

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

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

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

Where can I find the Sub Registrar Office for Padmavathi Nagar?

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