Guideline Value for Padmavathy Nagar

Padmavathy Nagar guideline value

The current guideline value of Padmavathy Nagar is Rs 150 per sq.ft, effective from 1 July 2024. This street is located in Siru Mathoor village, under the Sriperumpudur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Padmavathy Nagar has changed

The guideline value for Padmavathy Nagar has seen several revisions over the years. In the 2007 revision, the value was set at Rs 60 per sq.ft. This increased significantly to Rs 150 per sq.ft in the 2012 revision, marking a 150% rise. However, in the 2017 revision, the value was adjusted down to Rs 100 per sq.ft, a decrease of 33%. The value remained at Rs 150 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 150%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Siru Mathoor

Siru Mathoor village has 24 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 2,500 per sq.ft, with a median value of Rs 600 per sq.ft. The guideline value for Padmavathy Nagar is below this median.

• Oviar Gramam: Rs 300 per sq.ft (2024)
• Osuramman Koil street: Rs 600 per sq.ft (2024)
• Perumal Koil street: Rs 600 per sq.ft (2024)
• Mullai Nagar: Rs 600 per sq.ft (2024)
• Metro Green Grove House: Rs 600 per sq.ft (2024)
• Raja Rajeswari Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total to Rs 13,500. 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?

The Sub Registrar Office that covers Padmavathy Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Siru Mathoor. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction process. The guideline value is set by the Registration Department and is updated periodically to reflect changes in the real estate market.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, and it helps maintain transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar?

The current guideline value of Padmavathy Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 150 per sq.ft in 2012, then decreased to Rs 100 per sq.ft in 2017. It remained at Rs 150 per sq.ft in both 2023 and 2024.

What is the median guideline value in Siru Mathoor?

The median guideline value in Siru Mathoor is Rs 600 per sq.ft, with values for various streets ranging from Rs 150 to Rs 2,500 per sq.ft.

What are the stamp duty and registration fees for property transactions?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, a 1,000 sq.ft plot at Rs 150 per sq.ft incurs a total fee of Rs 13,500.

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

The Sub Registrar Office for Padmavathy Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.