Guideline Value

Corporate

Guideline Value for Padmavathi Nagar

₹4400/sq.ft.

The guideline value for Padmavathi Nagar in Virugambakkam village (Virugambakkam SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Virugambakkam

Village

Virugambakkam

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1100 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹481 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹434 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[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]

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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 Virugambakkam village, under the jurisdiction of the Virugambakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Padmavathi Nagar has changed

The guideline value for Padmavathi Nagar has seen several revisions over the years. In 2002, the value was Rs 434 per sq.ft, which increased to Rs 481 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 1,100 per sq.ft in 2007, reflecting a 129% increase. Following this, the value surged to Rs 4,000 per sq.ft in 2012, an increase of 264%. However, between 2012 and 2017, the value decreased to Rs 2,680 per sq.ft, a decline of 33%. The value then increased to Rs 4,000 per sq.ft in 2023, followed by a further increase to Rs 4,400 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 914%. The register does not contain figures for any other years for this street.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a guideline value for 2024, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which matches the current guideline value of Padmavathi Nagar.

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 would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathi Nagar?

The Sub Registrar Office covering Padmavathi Nagar is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for additional information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

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?

The guideline value has changed significantly from Rs 434 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting a total increase of 914% over the years.

What are the stamp duty rates in Padmavathi Nagar?

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

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

The Sub Registrar Office for Padmavathi Nagar is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property and is essential for calculating the stamp duty and registration fees during the sale or purchase of property.