Guideline Value for SRI PADMAVATHI NAGAR

Sri Padmavathi Nagar guideline value

The current guideline value of Sri Padmavathi Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This locality is situated in Nelvay village and falls under the Oothukkottai SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sri Padmavathi Nagar has changed

The guideline value for Sri Padmavathi Nagar has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 70 per sq.ft, which decreased to Rs 47 per sq.ft in the 2017 revision. Following this, the value saw a significant increase to Rs 100 per sq.ft in both the 2023 and 2024 revisions, reflecting a total increase of 113% from 2017 to 2023 and an overall increase of 43% from 2012 to 2024.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. The guideline value remained at Rs 100 per sq.ft from 2023 to 2024, indicating no change during that period.

Guideline values in Nelvay

In Nelvay village, there are eight streets under the Oothukkottai SRO that carry a 2024 guideline value, all set at Rs 100 per sq.ft. The median guideline value for these streets is also Rs 100 per sq.ft, placing Sri Padmavathi Nagar in line with this median.

• Sri Balaji Nagar: Rs 100 per sq.ft (2024)
• Sri Anandha Nagar: Rs 100 per sq.ft (2024)
• Sakthi Venkateswara Nargar-Phase-1: Rs 100 per sq.ft (2024)
• Anjaneya Nagar-Phase-3: Rs 100 per sq.ft (2024)
• Anjaneya Nagar-Ext-1: Rs 100 per sq.ft (2024)
• Anjaneya Nagar-2: Rs 100 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 guideline value of Rs 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty is charged at 7%, totaling Rs 7,000, while the registration fee is charged at 2%, amounting to Rs 2,000. Together, the total fees would be Rs 9,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Padmavathi Nagar?

The Sub Registrar Office that covers Sri Padmavathi Nagar is the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, 602026, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Nelvay, the guideline value is used to calculate the stamp duty and registration fees that are payable during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration norms and to facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value of Sri Padmavathi Nagar?

The current guideline value of Sri Padmavathi 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 changed from Rs 70 per sq.ft in 2012 to Rs 47 per sq.ft in 2017, and then increased to Rs 100 per sq.ft in both 2023 and 2024.

What are the stamp duty and registration fees for properties in Sri Padmavathi Nagar?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 1,00,000, the total fees would amount to Rs 9,000.

Which office handles registrations for Sri Padmavathi Nagar?

The Oothukkottai Sub Registrar Office handles registrations for Sri Padmavathi Nagar, located near the government hospital in Uthukottai, 602026, Chennai registration zone.

Are there other streets in Nelvay with the same guideline value?

Yes, there are several other streets in Nelvay that also have a guideline value of Rs 100 per sq.ft for the year 2024.