Guideline Value for Sri Padmavathi Nagar

Sri Padmavathi Nagar guideline value

The current guideline value of Sri Padmavathi Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is located in Karanaipuducheri village, under the Gooduvancheri Sub Registrar Office (SRO). The land classification for this street is Residential Special Type - I.

How the guideline value of Sri Padmavathi Nagar has changed

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 804 per sq.ft. However, from 2017 to the 2023 revision, the value increased significantly by 49%, bringing it back to Rs 1,200 per sq.ft. The 2023 revision also maintained this figure into the 2024 revision, showing no change of 0%.

For the years 2002, 2003, and 2007, the register has no figure for Sri Padmavathi Nagar. Overall, comparing the 2012 revision to the 2024 revision, there is a 0% change, indicating that the guideline value has returned to its 2012 level after fluctuations in the intervening years.

Guideline values in Karanaipuducheri

In Karanaipuducheri, there are 108 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 2,239 per sq.ft. The median guideline value for these streets is Rs 802 per sq.ft, and Sri Padmavathi Nagar's 2024 figure of Rs 1,200 per sq.ft is above this median.

• Sri Lingam Nagar Extn: Rs 700 per sq.ft (2024)
• Sri Lingam Nagar: Rs 700 per sq.ft (2024)
• Sri Saibaba Nagar: Rs 1,200 per sq.ft (2024)
• Sri Jayendira Saraswathi Suwamigal Nagar Extn: Rs 1,200 per sq.ft (2024)
• Sri Jayendira Saraswathi Suwamigal Nagar: Rs 1,200 per sq.ft (2024)
• Sri Jakki Vasudev Nagar - II: Rs 1,000 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 rate of Rs 1,200 per sq.ft, the guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, while the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Padmavathi Nagar?

The Sub Registrar Office that covers Sri Padmavathi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Karanaipuducheri. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers must ensure that the property is registered at the guideline value or the sale price, whichever is higher.

During the registration, the guideline value ensures that the transaction is recorded accurately, reflecting the value of the property as per the regulations set by the state. This helps in maintaining transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Sri Padmavathi Nagar?

The current guideline value of Sri Padmavathi Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, notably decreasing from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, before increasing back to Rs 1,200 per sq.ft in 2023 and remaining the same in 2024.

What are the other guideline values in Karanaipuducheri?

In Karanaipuducheri, other streets have varying guideline values, with rates ranging from Rs 400 to Rs 2,239 per sq.ft. Sri Padmavathi Nagar's value is above the median of Rs 802 per sq.ft.

What is the registration fee and stamp duty for properties in Sri Padmavathi Nagar?

The registration fee is 2% of the guideline value, while the stamp duty is 7%. For a property with a guideline value of Rs 12,00,000, the total fees would amount to Rs 1,08,000.

Which office handles the registration for Sri Padmavathi Nagar?

The Gooduvancheri Sub Registrar Office handles the registration for Sri Padmavathi Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.