Guideline Value for SRI PADMAVATHI NAGAR

Sri Padmavathi Nagar guideline value

The current guideline value of Sri Padmavathi Nagar is Rs 885 per sq.ft, effective from 1 July 2024. This area is located in Kannampalayam village under the Kunrathur SRO, classified as Residential Class IV Type - I.

How the guideline value of Sri Padmavathi Nagar has changed

The guideline value for Sri Padmavathi Nagar has undergone several revisions. In the 2017 revision, the value was Rs 804 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 804 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 885 per sq.ft, marking a 10% rise from the previous year.

Looking at the overall changes, from 2017 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kannampalayam

In Kannampalayam, there are 75 streets under the Kunrathur SRO, with guideline values ranging from Rs 765 to Rs 4,000 per sq.ft. The median value for these streets is Rs 1,375 per sq.ft, placing Sri Padmavathi Nagar's 2024 figure below this median.

• Srinivasa Nagar: Rs 880 per sq.ft (2024)
• Sri Kamadhenu Nagar: Rs 2,200 per sq.ft (2024)
• Sri Dhanalakshmi Nagar: Rs 880 per sq.ft (2024)
• Sri Ambal Vijayalakshmi Nagar: Rs 2,460 per sq.ft (2024)
• Sri Ambal Nagar: Rs 1,320 per sq.ft (2024)
• Sree Kamatchi Amman Nagar: Rs 2,460 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Padmavathi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 885 per sq.ft, the guideline value amounts to Rs 8,85,000. The stamp duty at 7% would be Rs 61,950, and the registration fee at 2% would be Rs 17,700, bringing the total to Rs 79,650. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Padmavathi Nagar?

The Kunrathur Sub Registrar Office covers Sri Padmavathi Nagar. The address is 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 Kannampalayam

The guideline value is a crucial factor during the registration of property transactions in Kannampalayam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the higher amount between the guideline value and the sale price is considered for calculating the applicable duties. 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 Sri Padmavathi Nagar?

The current guideline value of Sri Padmavathi Nagar is Rs 885 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 804 per sq.ft in 2017 to Rs 885 per sq.ft in 2024, reflecting a 10% increase. There was no change recorded from 2017 to 2023.

What are the guideline values for other streets in Kannampalayam?

Other streets in Kannampalayam have varying guideline values, ranging from Rs 765 to Rs 4,000 per sq.ft. For example, Srinivasa Nagar has a value of Rs 880 per sq.ft, while Sri Kamadhenu Nagar is valued at Rs 2,200 per sq.ft.

What is the registration fee for properties in Sri Padmavathi Nagar?

The registration fee is calculated based on the guideline value or sale price, whichever is higher. For a property valued at Rs 8,85,000, the registration fee would be Rs 17,700 at a rate of 2%.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can visit this office for all registration-related queries.