Guideline Value for Padmavathy Nagar 5th Street

Padmavathy Nagar 5th Street guideline value

The current guideline value of Padmavathy Nagar 5th 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 5th Street has changed

The guideline value for Padmavathy Nagar 5th Street has undergone several revisions over the years. The 2017 revision recorded a guideline value of Rs 1,072 per sq.ft, which increased to Rs 1,600 per sq.ft in the 2023 revision. The latest revision in 2024 sees a further increase to Rs 1,760 per sq.ft. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

From 2017 to 2023, the guideline value rose by 49%, and from 2023 to 2024, it increased by 10%. Overall, from 2017 to 2024, there has been a significant increase of 64% in the guideline value.

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO that carry 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 5th Street above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total cost for these fees to Rs 1,58,400. It is important to note that 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 Padmavathy Nagar 5th Street?

The Sub Registrar Office that covers Padmavathy Nagar 5th 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

When buying or selling property in Kunrathour-B, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This value is set by the Registration Department and is crucial for calculating the costs involved in the property transfer process.

It is essential for buyers and sellers to be aware of the guideline value as it directly affects the financial obligations during the registration of the property. Ensuring that the transaction is registered at the correct guideline value helps in maintaining compliance with local regulations.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 5th Street?

The current guideline value of Padmavathy Nagar 5th Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,072 per sq.ft in 2017 to Rs 1,600 per sq.ft in 2023, and further to Rs 1,760 per sq.ft in 2024, marking a total increase of 64% from 2017 to 2024.

What is the land classification of Padmavathy Nagar 5th Street?

Padmavathy Nagar 5th Street is classified as Mixed Special Type - III under the current land classification system.

Where can I find the registration office for this street?

The registration office for Padmavathy Nagar 5th Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Kunrathour-B?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 17,60,000, the stamp duty would be 7% of that amount.