Guideline Value for Padmavathy Nagar Annex

Padmavathy Nagar Annex guideline value

The current guideline value of Padmavathy Nagar Annex is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kathirvedu village, under the Ambattur SRO, and is classified as Residential Special Type - I.

How the guideline value of Padmavathy Nagar Annex has changed

The guideline value for Padmavathy Nagar Annex has seen several revisions over the years. Starting from Rs 210 per sq.ft in 2003, it increased significantly to Rs 500 per sq.ft in 2007, marking a 138% rise. The value then surged to Rs 2,500 per sq.ft in 2012, reflecting a remarkable 400% increase. However, it dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33%. The value climbed to Rs 2,500 per sq.ft in 2023, followed by an 8% increase to the current value of Rs 2,700 per sq.ft in 2024.

Overall, from 2003 to 2024, the guideline value has increased by 1186%. The register has no figure for the year 2002 for this street.

Guideline values in Kathirvedu

In Kathirvedu, there are 78 streets under the Ambattur SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for the area is Rs 1,500 per sq.ft, placing Padmavathy Nagar Annex above this median.

• Padmavathy Nagar Extension: Rs 2,700 per sq.ft (2024)
• Parimalam Nagar: Rs 1,500 per sq.ft (2024)
• Northern Ally Phase-III: Rs 6,000 per sq.ft (2024)
• Northern Ally Phase-II: Rs 4,200 per sq.ft (2024)
• Northern Ally Phase-I: Rs 4,200 per sq.ft (2024)
• Raasi Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathy Nagar Annex?

The Padmavathy Nagar Annex falls under the jurisdiction of the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Kathirvedu. It is used to determine the stamp duty and registration fees that must be paid, ensuring that these costs are based on a standardized value rather than the negotiated sale price.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in maintaining transparency in property transactions and ensures that the government receives the appropriate revenue from stamp duties.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar Annex?

The current guideline value of Padmavathy Nagar Annex is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 210 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, showing an overall increase of 1186% over this period.

What are the guideline values of other streets in Kathirvedu?

Other streets in Kathirvedu have varying guideline values, ranging from Rs 1,100 to Rs 6,000 per sq.ft, with Padmavathy Nagar Annex being above the median of Rs 1,500 per sq.ft.

What fees are associated with property transactions in Padmavathy Nagar Annex?

When transacting property in Padmavathy Nagar Annex, buyers must pay stamp duty at 7% and a registration fee at 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Padmavathy Nagar Annex?

The Sub Registrar Office covering Padmavathy Nagar Annex is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.