Guideline Value for Padmavathi Nagar

Padmavathi Nagar guideline value

The current guideline value of Padmavathi Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village under the Padappai SRO, classified as Commercial Class I Type - II.

How the guideline value of Padmavathi Nagar has changed

The guideline value for Padmavathi Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 2,700 per sq.ft, which later dropped to Rs 1,809 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 2,700 per sq.ft, and the most recent 2024 revision raised it further to Rs 2,970 per sq.ft.

In terms of percentage changes, the value increased by 49% from 2017 to 2023 and then by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has seen a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,310 per sq.ft, placing Padmavathi Nagar's 2024 figure above that median.

• Padmam Garden: Rs 3,960 per sq.ft (2024)
• O.V. Alagesan Street: Rs 1,980 per sq.ft (2024)
• Pananchalai: Rs 1,650 per sq.ft (2024)
• Panchayat Board Street: Rs 2,640 per sq.ft (2024)
• N.T.R.Garden: Rs 1,980 per sq.ft (2024)
• Pandiyan Theru: 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 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. Please 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 Sub Registrar Office that covers Padmavathi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungalathur. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When registering a property, buyers and sellers must consider the guideline value as it influences the stamp duty and registration fees. This ensures compliance with local regulations and helps in the accurate assessment of property taxes.

Frequently asked questions

What is the current guideline value of Padmavathi Nagar?

The current guideline value of Padmavathi Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2012 to Rs 1,809 per sq.ft in 2017, then to Rs 2,700 per sq.ft in 2023, and finally to Rs 2,970 per sq.ft in 2024.

What is the land classification of Padmavathi Nagar?

Padmavathi Nagar is classified as Commercial Class I Type - II.

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

The Sub Registrar Office for Padmavathi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Padmavathi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 29,70,000 would incur a stamp duty of Rs 2,07,900 at 7%.