Guideline Value

Corporate

Guideline Value for SRI PADMAVATHY NAGAR

₹1650/sq.ft.

The guideline value for Sri Padmavathy Nagar in Karambakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 1650 per sq.ft, effective 1 July 2024. It was Rs 1500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Karambakkam

Village

Chennai South Joint I

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹1650 /sq.ft.
From 1-4-2023 ₹1500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1005 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹350 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹185 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹161 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Sri Padmavathy Nagar

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Sri Padmavathy Nagar guideline value

The current guideline value of Sri Padmavathy Nagar, located in Karambakkam village, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Sri Padmavathy Nagar has changed

Over the years, the guideline value of Sri Padmavathy Nagar has seen significant changes. In 2002, the guideline value was Rs 161 per sq.ft, which increased to Rs 185 per sq.ft in 2003, marking a rise of 15%. The value continued to grow, reaching Rs 350 per sq.ft in 2007, a remarkable increase of 89%. By 2012, the value was Rs 1,500 per sq.ft, reflecting a substantial increase of 329% from the previous revision. However, it then decreased by 33% to Rs 1,005 per sq.ft in 2017.

From 2017 to 2023, the value surged by 49% to Rs 1,500 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, a 10% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by 925%.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,930 per sq.ft, indicating that the guideline value of Sri Padmavathy Nagar is below this median.

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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also 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 Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Karambakkam. It serves as a benchmark for determining the minimum value of the property for the purpose of calculating stamp duty and registration fees.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government collects the appropriate taxes based on the value of the transaction.

Frequently asked questions

What is the current guideline value of Sri Padmavathy Nagar?

The current guideline value of Sri Padmavathy Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 161 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 925% over this period.

What is the registration office for Sri Padmavathy Nagar?

The registration office for Sri Padmavathy Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated in Sri 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 valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.

What are the guideline values of other streets in Karambakkam?

Other streets in Karambakkam have varying guideline values, with Sriram Nagar and its adjacent streets having a guideline value of Rs 1,930 per sq.ft, while Srimath Malathi Nagar has a value of Rs 1,110 per sq.ft.