Guideline Value for Padmavathy Nagar

Padmavathy Nagar guideline value

The current guideline value of Padmavathy Nagar, located in Agraharam Vada village under the Poonamallee SRO, is Rs 850 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Padmavathy Nagar has changed

Over the years, the guideline value of Padmavathy Nagar has seen several revisions. The earliest recorded figure is from 2012, where it was Rs 800 per sq.ft. This was followed by a decrease to Rs 536 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 800 per sq.ft, and the most recent revision in 2024 set the value at Rs 850 per sq.ft, marking a 6% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, the value dropped by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 6%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Agraharam Vada

In Agraharam Vada, there are 17 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 1,650 per sq.ft. The median value for these streets is Rs 880 per sq.ft, placing Padmavathy Nagar's 2024 figure below that median.

• Padmavathy Nagar Extension: Rs 1,650 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

For a 1,000 sq.ft plot at the current guideline value of Rs 850 per sq.ft, the total guideline value would be Rs 8,50,000. The stamp duty at 7% would amount to Rs 59,500, and the registration fee at 2% would be Rs 17,000, bringing the total fees to Rs 76,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, 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 Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for further assistance.

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

The guideline value plays a crucial role when buying or selling property in Agraharam Vada. It determines the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory during the property transfer process.

When a buyer decides to purchase a property, they will need to 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 in the area.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar?

The current guideline value of Padmavathy Nagar is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then back to Rs 800 per sq.ft in 2023, and finally to Rs 850 per sq.ft in 2024.

What is the land classification for Padmavathy Nagar?

Padmavathy Nagar is classified as Residential Class I Type - I, indicating its use for residential purposes.

Where can I find the Poonamallee Sub Registrar Office?

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

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 of the property. For example, for a property with a guideline value of Rs 8,50,000, the stamp duty would be Rs 59,500 at 7%.