Guideline Value for Shri Padmavathy nagar

Shri Padmavathy nagar guideline value

The current guideline value for Shri Padmavathy nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Shri Padmavathy nagar has changed

The guideline value for Shri Padmavathy nagar has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 900% increase. However, this value dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 2,000 per sq.ft, which then increased to Rs 2,200 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has risen by 1000%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the guideline value for Shri Padmavathy nagar.

• Shrinivasa nagar: Rs 2,200 per sq.ft (2024)
• Shri nagar: Rs 2,200 per sq.ft (2024)
• Shri shreeniavasa nagar 446/3: Rs 2,200 per sq.ft (2024)
• Shri Bakthavatchalam avenue 559/2,560,561,564: Rs 2,200 per sq.ft (2024)
• Shri ambal nagar phase 1: Rs 2,740 per sq.ft (2024)
• Shri Ambal Nagar Malligai Avenue: Rs 2,740 per sq.ft (2024)

Stamp duty and registration fee for property in Shri Padmavathy nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shri Padmavathy nagar?

The Sub Registrar Office that covers Shri Padmavathy nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Poonthamallee. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the transaction is processed according to the established guidelines.

Frequently asked questions

What is the current guideline value of Shri Padmavathy nagar?

The current guideline value of Shri Padmavathy nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking a significant increase of 1000% over the years.

What are the other streets in Poonthamallee with the same guideline value?

Other streets in Poonthamallee with a guideline value of Rs 2,200 per sq.ft include Shrinivasa nagar, Shri nagar, Shri shreeniavasa nagar 446/3, and Shri Bakthavatchalam avenue 559/2,560,561,564.

What fees are associated with buying property in Shri Padmavathy nagar?

When buying property in Shri Padmavathy nagar, buyers should expect to pay stamp duty at 7% and a registration fee at 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Shri Padmavathy nagar?

The Sub Registrar Office for Shri Padmavathy nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.