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Guideline Value

Corporate

Guideline Value for Padmavathy Nagar (Ward-15)

₹2200/sq.ft.

The guideline value for Padmavathy Nagar (ward-15) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 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

Madhavaram

Village

Madhavaram

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[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 Padmavathy Nagar (ward-15)

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Padmavathy Nagar (Ward-15) guideline value

The current guideline value of Padmavathy Nagar (Ward-15) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Padmavathy Nagar (Ward-15) has changed

Looking at the revisions of the guideline value, the most recent change occurred in 2024, where the value increased to Rs 2,200 per sq.ft from Rs 2,000 per sq.ft in 2023, marking a 10% increase. Prior to this, the guideline value remained unchanged from 2012 to 2023 at Rs 2,000 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The 2024 revision places Padmavathy Nagar (Ward-15) above the median guideline value of Rs 1,600 per sq.ft for the 1,946 streets in Madhavaram under the Madhavaram SRO.

Guideline values in Madhavaram

In Madhavaram, the guideline values range from Rs 1,300 to Rs 7,500 per sq.ft as per the 2024 revision. The median value is Rs 1,600 per sq.ft, making the guideline value of Padmavathy Nagar (Ward-15) higher than this median. Below are the guideline values for other streets in Madhavaram:

Stamp duty and registration fee for property in Padmavathy Nagar (Ward-15)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. 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 Padmavathy Nagar (Ward-15)?

The Sub Registrar Office that covers Padmavathy Nagar (Ward-15) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions reflect a fair value for taxation purposes.

When buying or selling property, the guideline value influences the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider the guideline value to accurately estimate the total costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar (Ward-15)?

The current guideline value of Padmavathy Nagar (Ward-15) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen a change from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, a 10% increase. The value remained unchanged at Rs 2,000 per sq.ft from 2012 to 2023.

What is the land classification of Padmavathy Nagar (Ward-15)?

Padmavathy Nagar (Ward-15) is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty rates for property in Padmavathy Nagar (Ward-15)?

The stamp duty rate for property transactions in Padmavathy Nagar is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in Padmavathy Nagar (Ward-15).