Guideline Value for Sri Padmavathi Nagar

Sri Padmavathi Nagar guideline value

The current guideline value of Sri Padmavathi Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Appur village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - I.

How the guideline value of Sri Padmavathi Nagar has changed

The guideline value for Sri Padmavathi Nagar has undergone several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 110 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2012, marking a 355% increase. However, in the subsequent revision in 2017, the value decreased to Rs 335 per sq.ft, a decline of 33%. The value then rose again to Rs 500 per sq.ft in 2023, maintaining the same rate in the latest revision for 2024.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. The current guideline value of Rs 500 per sq.ft from the 2024 revision is consistent with the previous year, indicating no change from 2023 to 2024. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Appur

In Appur village, there are seven streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 500 to Rs 1,642 per sq.ft. The median value for these streets is Rs 500 per sq.ft, which is equal to the current guideline value of Sri Padmavathi Nagar.

• Soundarya Nagar: Rs 500 per sq.ft (2024)
• Sunrais Avenue: Rs 500 per sq.ft (2024)
• Karthikeyan Nagar: Rs 500 per sq.ft (2024)
• Ekansha Avenue: Rs 1,642 per sq.ft (2024)
• Soundarya Nagar Phase - I: Rs 500 per sq.ft (2024)
• சௌந்தர்யா நகர் பேஸ் II: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Padmavathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total charges to Rs 45,000. 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?

Sri Padmavathi Nagar falls under 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 Appur

The guideline value is a crucial factor during the registration of property transactions in Appur. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of property transfer.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for government revenue. Buyers and sellers should be aware of the current guideline value to accurately assess their costs during the registration process.

Frequently asked questions

What is the current guideline value of Sri Padmavathi Nagar?

The current guideline value of Sri Padmavathi Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, with the most significant increase occurring from Rs 110 per sq.ft in 2007 to Rs 500 per sq.ft in 2012. The value has remained at Rs 500 per sq.ft since 2012, with no change from 2023 to 2024.

What is the land classification of Sri Padmavathi Nagar?

Sri Padmavathi Nagar is classified as Residential Special Type - I under the Chengleput Joint II SRO.

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

The Sub Registrar Office for Sri Padmavathi Nagar is the Chengleput Joint II SRO, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Sri Padmavathi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 at 7%.