Guideline Value for Shri Padmavathy nagar

Shri Padmavathy nagar guideline value

The current guideline value of Shri Padmavathy nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Udaiyavarkoil 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. The earliest recorded figure is from 2003, which was Rs 54 per sq.ft. This increased to Rs 100 per sq.ft in 2007, marking a significant rise of 85%. In 2012, the value was revised to Rs 500 per sq.ft, showing a substantial increase of 400%. However, by 2017, the value decreased to Rs 335 per sq.ft, reflecting a decrease of 33%.

From 2017 to 2023, the guideline value rose sharply to Rs 500 per sq.ft, a 49% increase. The most recent revision in 2024 set the value at Rs 550 per sq.ft, which is a 10% increase from the previous year. The register has no figure for the year 2002 for this street.

Guideline values in Udaiyavarkoil

In Udaiyavarkoil, there are 35 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 3,400 per sq.ft. The median value is Rs 550 per sq.ft, which is equal to the current guideline value of Shri Padmavathy nagar.

• Shrinivasa nagar: Rs 550 per sq.ft (2024)
• Shanmugapuram 1st Street: Rs 550 per sq.ft (2024)
• Sri Athivinayagar Avenue 214, 217, 218, 219, 220, 221, 222, 223, 224, 225, 226, 228, 230, 216: Rs 550 per sq.ft (2024)
• Sannathi Street: Rs 550 per sq.ft (2024)
• Sababathy Mudaliar street: Rs 550 per sq.ft (2024)
• R.K Avenue: Rs 550 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 guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total fees together Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also 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, Poonamallee, Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Udaiyavarkoil. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated, ensuring that transactions are conducted fairly and transparently.

When a property is sold, if the sale price is lower than the guideline value, the higher guideline value is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value for Shri Padmavathy nagar?

The current guideline value for Shri Padmavathy nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 54 per sq.ft in 2003 to Rs 550 per sq.ft in 2024, with various increases and one decrease in between. Notably, there was a significant increase of 400% from 2007 to 2012.

Which Sub Registrar Office covers Shri Padmavathy nagar?

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

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find more information about the guideline values in Udaiyavarkoil?

More information about the guideline values in Udaiyavarkoil can be found through the Registration Department's guideline value register (TNReginet) or by checking other streets in the area.