Guideline Value for Padmavathi Nagar

Padmavathi Nagar guideline value

The current guideline value of Padmavathi Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village, under the Sembiam Sub Registrar Office (SRO), classified as Residential Special Type - I.

How the guideline value of Padmavathi Nagar has changed

The guideline value has undergone several revisions over the years. In 2002, the guideline value was Rs 259 per sq.ft, which increased to Rs 316 per sq.ft in 2003, marking a change of +22%. The value saw a significant rise to Rs 900 per sq.ft in 2007, reflecting an increase of +185%. By 2012, the value remained at Rs 4,000 per sq.ft, with no change from the previous revision. The 2023 revision also recorded the same value of Rs 4,000 per sq.ft.

In the latest revision for 2024, the guideline value rose to Rs 4,400 per sq.ft, representing a +10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by +1599%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, where the median value is Rs 3,300 per sq.ft. Padmavathi Nagar's 2024 guideline value is above this median.

• Padma Nagar: Rs 4,400 per sq.ft (2024)
• N.V.M. Nagar: Rs 2,700 per sq.ft (2024)
• Paper Mills Road: Rs 6,000 per sq.ft (2024)
• Paruindevi Amman Nagar: Rs 3,300 per sq.ft (2024)
• Parvathi Nagar: Rs 2,700 per sq.ft (2024)
• Parvathy Amman Nagar: Rs 2,700 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 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 more details.

Which Sub Registrar Office covers Padmavathi Nagar?

The Sub Registrar Office that covers Padmavathi Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kolathur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Padmavathi Nagar?

The current guideline value of Padmavathi Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 259 per sq.ft to Rs 4,400 per sq.ft in 2024, marking an overall increase of +1599%.

What is the stamp duty rate for properties in Padmavathi Nagar?

The stamp duty rate for properties in Padmavathi Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

What are some other streets in Kolathur with their guideline values?

Other streets in Kolathur include Padma Nagar at Rs 4,400 per sq.ft, N.V.M. Nagar at Rs 2,700 per sq.ft, and Paper Mills Road at Rs 6,000 per sq.ft, among others.