Guideline Value for Padmavathy Nagar

Padmavathy Nagar guideline value

The current guideline value of Padmavathy Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Boothanoor village and falls under the Sunguvarchattram SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Padmavathy Nagar has changed

Over the years, the guideline value of Padmavathy Nagar has experienced several revisions. The earliest recorded revision was in 2007, where the value was Rs 40 per sq.ft. This increased to Rs 100 per sq.ft in the 2012 revision, marking a significant rise of 150%. However, in 2017, the value decreased to Rs 67 per sq.ft, a decline of 33%. The 2023 revision maintained the value at Rs 100 per sq.ft, and the 2024 revision also remains at Rs 100 per sq.ft, showing no change from the previous year.

The overall change from the 2007 revision to the current 2024 revision is an increase of 150%. It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Boothanoor

In Boothanoor, there are five streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 471 per sq.ft. The median value for these streets is Rs 126 per sq.ft, indicating that Padmavathy Nagar's current guideline value is below this median.

• Ragavendhra Nagar: Rs 150 per sq.ft (2024)
• Jemi Housing Annai therasa Nagar phase: Rs 126 per sq.ft (2024)
• Annai Therasa Nagar: Rs 126 per sq.ft (2024)
• Sipcot Boothanoor: Rs 471 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 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total fees to Rs 9,000. It is important to 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?

The Sub Registrar Office that covers Padmavathy Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Boothanoor. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that all transactions are conducted in accordance with the regulations set by the Registration Department.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties and fees. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar?

The current guideline value of Padmavathy Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 40 per sq.ft in 2007, increasing to Rs 100 in 2012, dropping to Rs 67 in 2017, and remaining at Rs 100 in both 2023 and 2024.

What are the other streets in Boothanoor and their guideline values?

Other streets in Boothanoor include Ragavendhra Nagar at Rs 150 per sq.ft, Jemi Housing Annai therasa Nagar phase and Annai Therasa Nagar both at Rs 126 per sq.ft, and Sipcot Boothanoor at Rs 471 per sq.ft.

How is stamp duty calculated for properties in Padmavathy Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the guideline value of Rs 100 per sq.ft, the stamp duty would be Rs 7,000.

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

The Sub Registrar Office for Padmavathy Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.