Guideline Value for Padmavathi Srinivasan Nagar

Padmavathi Srinivasan Nagar guideline value

The current guideline value of Padmavathi Srinivasan Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is located in Thirumullaivoyal village under the Ambattur SRO and is classified as Residential Class II Type - I.

How the guideline value of Padmavathi Srinivasan Nagar has changed

The guideline value for Padmavathi Srinivasan Nagar has undergone several revisions over the years. The earliest record is from 2007, where the guideline value was Rs 400 per sq.ft. This figure saw a significant increase to Rs 1,800 per sq.ft in 2012, marking a change of 350%. The most recent revision in 2024 set the guideline value at Rs 1,900 per sq.ft, reflecting a 6% increase from the 2012 figure.

It is important to note that there are no figures available for the revisions in 2023, 2017, 2003, and 2002 for this street. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 375%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value of Padmavathi Srinivasan Nagar is below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total cost for these fees to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padmavathi Srinivasan Nagar?

The Sub Registrar Office that covers Padmavathi Srinivasan 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 is a crucial factor during the registration of property transactions in Thirumullaivoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two values is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Padmavathi Srinivasan Nagar?

The current guideline value of Padmavathi Srinivasan Nagar is Rs 1,900 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 400 per sq.ft in 2007 to Rs 1,800 per sq.ft in 2012, and then to Rs 1,900 per sq.ft in 2024. The overall increase from 2007 to 2024 is 375%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at the current guideline value of Rs 1,900 per sq.ft, the stamp duty would be 7% of the guideline value, and the registration fee would be 2%. For a 1,000 sq.ft plot, these fees would total Rs 1,71,000.

Which Sub Registrar Office covers this area?

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

What is the land classification for Padmavathi Srinivasan Nagar?

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