Guideline Value for Sri Padmavathi Nagar 3

Sri Padmavathi Nagar 3 guideline value

The current guideline value of Sri Padmavathi Nagar 3 is Rs 700 per sq.ft, effective from 1 July 2024. This property is located in Chettipunniyam village under the Chengleput Joint II SRO, classified as Residential Class I Type - II.

How the guideline value of Sri Padmavathi Nagar 3 has changed

In the 2007 revision, the guideline value was set at Rs 250 per sq.ft. This increased significantly to Rs 700 per sq.ft in the 2012 revision, marking a rise of 180%. However, in the 2017 revision, the value dropped to Rs 469 per sq.ft, a decrease of 33%. The guideline value then rose again to Rs 700 per sq.ft in the 2023 revision, maintaining the same rate in the 2024 revision, resulting in a 49% increase from 2017 to 2023.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 180%.

Guideline values in Chettipunniyam

In Chettipunniyam, there are 47 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 700 to Rs 4,750 per sq.ft, with a median value of Rs 900 per sq.ft. The guideline value of Sri Padmavathi Nagar 3 is below this median.

• Sri Sai Baba Nagar: Rs 900 per sq.ft (2024)
• Sri Hayagrivar Nagar Phase 5: Rs 900 per sq.ft (2024)
• Sri Hayagrivar Nagar Phase 3: Rs 900 per sq.ft (2024)
• Sri Ganapathy Nagar Extension-II: Rs 1,200 per sq.ft (2024)
• Sri Ganapathi Nagar: Rs 1,200 per sq.ft (2024)
• Sri Devanathan Nagar: Rs 900 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Padmavathi Nagar 3

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Padmavathi Nagar 3?

The Sub Registrar Office covering Sri Padmavathi Nagar 3 is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Chettipunniyam. It serves as a benchmark for determining the minimum value at which properties can be registered. This value is used to calculate the stamp duty and registration fees payable during the transaction.

When buying or selling property, the guideline value ensures transparency and standardization in the registration process. Buyers and sellers should be aware of this value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Sri Padmavathi Nagar 3?

The current guideline value of Sri Padmavathi Nagar 3 is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent being Rs 700 per sq.ft in both 2023 and 2024. The value increased from Rs 469 per sq.ft in 2017, which was a 49% rise.

What is the stamp duty for properties in Sri Padmavathi Nagar 3?

The stamp duty for properties in Sri Padmavathi Nagar 3 is 7% of the guideline value or sale price, whichever is higher. For a plot valued at Rs 7,00,000, the stamp duty would be Rs 49,000.

Which Sub Registrar Office covers the area?

The Chengleput Joint II Sub Registrar Office covers Sri Padmavathi Nagar 3, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the classification of land in Sri Padmavathi Nagar 3?

Sri Padmavathi Nagar 3 is classified as Residential Class I Type - II, indicating its suitability for residential purposes.