Guideline Value for SRI PADMAVATHY NAGAR

Sri Padmavathy Nagar guideline value

The current guideline value of Sri Padmavathy Nagar is Rs 150 per sq.ft, effective from 1 July 2024. This area is located in Vaiyavoor village and falls under the Madurandakam SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Sri Padmavathy Nagar has changed

The guideline value for Sri Padmavathy Nagar has undergone several revisions over the years. The 2024 revision maintains the guideline value at Rs 150 per sq.ft, unchanged from the 2023 revision, which also recorded Rs 150 per sq.ft. Prior to that, in 2017, the value was Rs 100 per sq.ft, reflecting a 50% increase from that year to 2023. The 2012 revision had set the value at Rs 150 per sq.ft, indicating a decrease of 33% to Rs 100 per sq.ft in 2017. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 150 per sq.ft.

The register does not contain figures for the years 2002, 2003, and 2007 for this street. Therefore, the most recent revisions are from 2012, 2017, 2023, and 2024.

Guideline values in Vaiyavoor

In Vaiyavoor, there are 9 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 800 per sq.ft, with a median value of Rs 200 per sq.ft. Sri Padmavathy Nagar's 2024 guideline value is below this median.

• Sri Venkateshwara Nagar Phase-I&ii: Rs 200 per sq.ft (2024)
• Sri Bharathi Nagar: Rs 200 per sq.ft (2024)
• Sri Venkateswara Nagar Ph I &ii: Rs 500 per sq.ft (2024)
• Guberamangala Nagar: Rs 100 per sq.ft (2024)
• Alangar Gateway City: Rs 150 per sq.ft (2024)
• Sri Padmavathy Nagar Anex: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Padmavathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total to Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Padmavathy Nagar?

The Sub Registrar Office that covers Sri Padmavathy Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Vaiyavoor, the guideline value plays a crucial role in determining the applicable stamp duty and registration fees. The guideline value is used to assess the minimum value for registration, ensuring that the transaction is recorded at a fair value as per the government standards.

It is essential for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process. This value helps in ensuring that the property is registered at a price that reflects its worth according to the local regulations.

Frequently asked questions

What is the current guideline value of Sri Padmavathy Nagar?

The current guideline value of Sri Padmavathy Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2012 to Rs 100 per sq.ft in 2017, then back to Rs 150 per sq.ft in 2023 and 2024, showing no overall change from 2012 to 2024.

What is the land classification of Sri Padmavathy Nagar?

Sri Padmavathy Nagar is classified as Residential Special Type - II, indicating its intended use for residential purposes.

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

The Sub Registrar Office for Sri Padmavathy Nagar is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated in Sri Padmavathy Nagar?

Stamp duty in Sri Padmavathy Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.