Guideline Value for Padmavathy Nagar Extension

Padmavathy Nagar Extension guideline value

The current guideline value of Padmavathy Nagar Extension is Rs 1,650 per sq.ft, effective from 1 July 2024. This property is located in Agraharam Vada village under the Poonamallee SRO, with a land classification of Mixed Type - III.

How the guideline value of Padmavathy Nagar Extension has changed

The guideline value for Padmavathy Nagar Extension has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions show that in 2023, the guideline value was Rs 1,500 per sq.ft, which increased to Rs 1,650 per sq.ft in 2024, marking a change of +10%.

Prior to 2023, the last recorded revision was in 2024. The guideline value for this street has consistently been above the median value of Rs 880 per sq.ft for the 17 streets in Agraharam Vada that have a 2024 figure.

Guideline values in Agraharam Vada

In Agraharam Vada, the guideline values for the 17 streets under the Poonamallee SRO vary significantly, ranging from Rs 660 to Rs 1,650 per sq.ft. The guideline value for Padmavathy Nagar Extension is above the median of Rs 880 per sq.ft. Below are the guideline values for other streets in Agraharam Vada:

• Padmavathy Nagar: Rs 850 per sq.ft (2024)
• Pilliyar Koil Street: Rs 850 per sq.ft (2024)
• M.S.V Nagar: Rs 1,650 per sq.ft (2024)
• Ms Nagar 47/2a: Rs 1,100 per sq.ft (2024)
• M.S.Nagar: Rs 1,650 per sq.ft (2024)
• Ramachandran Nagar: Rs 850 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padmavathy Nagar Extension?

The Sub Registrar Office that covers Padmavathy Nagar Extension is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Agraharam Vada. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation set by the government.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable duties and fees. This ensures that the registration process reflects the property's value accurately, safeguarding the interests of both buyers and sellers.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar Extension?

The current guideline value of Padmavathy Nagar Extension is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, marking a 10% increase. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500. The duty is charged based on the higher of the guideline value or the sale price.

Which Sub Registrar Office should I visit for transactions in Padmavathy Nagar Extension?

The Poonamallee Sub Registrar Office covers Padmavathy Nagar Extension. It is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the median guideline value in Agraharam Vada?

The median guideline value for the 17 streets in Agraharam Vada is Rs 880 per sq.ft. Padmavathy Nagar Extension's guideline value is above this median.