Guideline Value

Corporate

Guideline Value for Padmavathi Nagar

₹275/sq.ft.

The guideline value for Padmavathi Nagar in Sirungavoor village (Redhills SRO, Chennai zone) is Rs 275 per sq.ft, effective 1 July 2024. It was Rs 250 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Sirungavoor

Village

Redhills

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹275 /sq.ft.
From 1-4-2023 ₹250 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹167 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹250 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹100 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹21 /sq.ft.
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Padmavathi Nagar

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Padmavathi Nagar guideline value

The current guideline value of Padmavathi Nagar is Rs 275 per sq.ft, effective from 1 July 2024. This street is located in Sirungavoor village under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Padmavathi Nagar has changed

The guideline value for Padmavathi Nagar has undergone several revisions over the years. The earliest recorded figure is from 2003, where the guideline value was Rs 21 per sq.ft. This increased significantly to Rs 100 per sq.ft in 2007, then rose to Rs 250 per sq.ft in 2012. However, it decreased to Rs 167 per sq.ft in 2017. The 2023 revision saw a substantial increase to Rs 250 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 275 per sq.ft.

In terms of percentage changes, the guideline value increased by 376% from 2003 to 2007, decreased by 33% from 2012 to 2017, and then increased by 50% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2003 to 2024, the guideline value has increased by 1210%. The register has no figure for Padmavathi Nagar for the year 2002.

Guideline values in Sirungavoor

In Sirungavoor, there are 24 streets under the Redhills SRO that have a guideline value for 2024, ranging from Rs 220 to Rs 1,500 per sq.ft. The median guideline value is Rs 275 per sq.ft, making Padmavathi Nagar's 2024 figure equal to the median.

Stamp duty and registration fee for property in Padmavathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 275 per sq.ft, the total guideline value amounts to Rs 2,75,000. The stamp duty at 7% would be Rs 19,250, and the registration fee at 2% would be Rs 5,500, totaling Rs 24,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Padmavathi Nagar?

The Sub Registrar Office that covers Padmavathi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

When buying or selling property in Sirungavoor, the guideline value is crucial as it determines the amount of stamp duty and registration fees payable. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

It is essential for both buyers and sellers to understand that the guideline value serves as a benchmark for property transactions in the area. This value is regularly updated to reflect changes in the real estate market, ensuring that it remains relevant for all property dealings.

Frequently asked questions

What is the current guideline value of Padmavathi Nagar?

The current guideline value of Padmavathi Nagar is Rs 275 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 21 per sq.ft in 2003 to Rs 275 per sq.ft in 2024, with various increases and decreases occurring in between.

What is the registration office for Padmavathi Nagar?

The registration office for Padmavathi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value or sale price.

What other streets have guideline values in Sirungavoor?

Other streets in Sirungavoor with guideline values include Parvathi Nagar, Parvathi Nagar Annex, Parvathi Nagar Annex-II, Parvathi Nagar Extn.1, Rajiv Gandhi Nagar, and Rajiv Gandhi Nagar Phase-I, with values ranging from Rs 220 to Rs 275 per sq.ft for 2024.