Guideline Value for Padmavathy Nagar

Padmavathy Nagar guideline value

The current guideline value of Padmavathy Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Manancheri village under the Kunrathur SRO and is classified as Residential Class I Type - I.

How the guideline value of Padmavathy Nagar has changed

The guideline value for Padmavathy Nagar has undergone several revisions over the years. In 2007, the value was set at Rs 350 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2012. However, it then decreased to Rs 603 per sq.ft in 2017. The 2023 revision marked a rise to Rs 900 per sq.ft, followed by a further increase to Rs 990 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, there has been an increase of 183% in the guideline value for Padmavathy Nagar.

Guideline values in Manancheri

In Manancheri, there are 59 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,400 per sq.ft. The median guideline value is Rs 990 per sq.ft, which matches the current value for Padmavathy Nagar. Below are the guideline values for other streets in Manancheri:

• Palayakara Street: Rs 660 per sq.ft (2024)
• Pallavaram Main Road: Rs 1,320 per sq.ft (2024)
• Parvathy Avenue: Rs 1,650 per sq.ft (2024)
• Parvathy Enclave: Rs 2,500 per sq.ft (2024)
• Perumal koil Street: Rs 1,100 per sq.ft (2024)
• Navidhar Street: Rs 990 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 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total fees to Rs 89,100. 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 further calculations.

Which Sub Registrar Office covers Padmavathy Nagar?

The Sub Registrar Office that covers Padmavathy Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Manancheri, as it determines the minimum value at which the property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value serves as a benchmark to ensure that the transaction is recorded accurately for taxation purposes. Buyers and sellers should be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar?

The current guideline value of Padmavathy Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 350 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 183% over the years.

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

For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300, and the registration fee would be Rs 19,800, totaling Rs 89,100.

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

The Sub Registrar Office for Padmavathy Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the median guideline value for streets in Manancheri?

The median guideline value for streets in Manancheri is Rs 990 per sq.ft, which is the same as the current guideline value for Padmavathy Nagar.