Guideline Value for Padmavathy Nagar Extension

Padmavathy Nagar Extension guideline value

The current guideline value of Padmavathy Nagar Extension is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kathirvedu village and falls under the Ambattur SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Padmavathy Nagar Extension has changed

The guideline value for Padmavathy Nagar Extension 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, and then rose to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

The changes between these revisions are notable. From 2003 to 2007, there was an increase of +138%, followed by a remarkable +400% from 2007 to 2012. The value then decreased by -33% from 2012 to 2017. A significant rise of +49% occurred from 2017 to 2023, culminating in an +8% increase from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by +1186%. The register has no figure for this street in 2002.

Guideline values in Kathirvedu

In Kathirvedu, there are 78 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, making Padmavathy Nagar Extension's 2024 figure of Rs 2,700 per sq.ft above that median.

• Padmavathy Nagar Annex: 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 Extension

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, while the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathy Nagar Extension?

The Sub Registrar Office that covers Padmavathy Nagar Extension is the Ambattur Sub Registrar Office. The address is 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 Kathirvedu

The guideline value is a crucial factor in the registration process when buying or selling property in Kathirvedu. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from property transactions.

When a buyer and seller agree on a sale price, the registration office will use the guideline value to calculate applicable fees. If the sale price is lower than the guideline value, the higher guideline value will be used to determine stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar Extension?

The current guideline value of Padmavathy Nagar Extension 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, with various revisions in between. Notable changes include an increase of +400% from 2007 to 2012 and a +49% increase from 2017 to 2023.

What are the stamp duty and registration fees for properties in Padmavathy Nagar Extension?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers this area?

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

What is the land classification for Padmavathy Nagar Extension?

The land classification for Padmavathy Nagar Extension is Residential Special Type - I, indicating its designated use for residential purposes.