Guideline Value for Padmavathy Nagar 1st Street

Padmavathy Nagar 1st Street guideline value

The current guideline value for Padmavathy Nagar 1st Street is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Kunrathour-B village under the Kunrathur SRO, classified as Mixed Special Type - III.

How the guideline value of Padmavathy Nagar 1st Street has changed

The guideline value for Padmavathy Nagar 1st Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,072 per sq.ft, which increased to Rs 1,600 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the guideline value to Rs 1,760 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2017 to 2024, there has been a significant increase of 64%. It is important to note that the guideline value register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 660 to Rs 5,130 per sq.ft. The median guideline value for these streets is Rs 1,540 per sq.ft, placing Padmavathy Nagar 1st Street above the median value.

• Padmavathy Nagar 2nd Street: Rs 1,760 per sq.ft (2024)
• Padmavathy Nagar 3rd Street: Rs 1,760 per sq.ft (2024)
• Padmavathy Nagar 4th Street: Rs 1,760 per sq.ft (2024)
• Padmavathy Nagar 5th Street: Rs 1,760 per sq.ft (2024)
• Padmavathy Nagar: Rs 1,760 per sq.ft (2024)
• Palavarayan Street: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total to Rs 1,58,400. Duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathy Nagar 1st Street?

The Sub Registrar Office that covers Padmavathy Nagar 1st Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kunrathour-B

The guideline value is a crucial factor when registering a property in Kunrathour-B. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is considered during the registration process. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 1st Street?

The current guideline value of Padmavathy Nagar 1st Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,072 per sq.ft in 2017 to Rs 1,760 per sq.ft in 2024, marking an overall increase of 64%.

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

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200, and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Which office handles property registrations for Padmavathy Nagar 1st Street?

The Kunrathur Sub Registrar Office handles property registrations for Padmavathy Nagar 1st Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

Where can I find more information about guideline values in Kunrathour-B?

For more information about guideline values in Kunrathour-B, you can refer to the registration department's guideline value register or check specific street values through their respective links.