Guideline Value for Sri Padmavathy Nagar

Sri Padmavathy Nagar guideline value

The current guideline value of Sri Padmavathy Nagar, located in Kathirvedu village under the Ambattur SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Sri Padmavathy Nagar has changed

The guideline value for Sri Padmavathy Nagar has seen several revisions over the years. In 2003, the value was Rs 210 per sq.ft, which increased to Rs 500 per sq.ft in 2007. Following that, the value rose significantly to Rs 2,500 per sq.ft in 2012, but then dropped to Rs 1,675 per sq.ft in 2017. The value was Rs 2,500 per sq.ft in 2023 before reaching the current rate of Rs 2,700 per sq.ft in 2024.

From 2017 to 2023, there was a substantial increase of 49%, and from 2023 to 2024, the guideline value rose by 8%. The most notable change occurred between 2007 and 2012, where the value surged by 400%. Overall, from 2003 to 2024, the guideline value has increased by 1186%. The register has no figure for the year 2002 for this street.

Guideline values in Kathirvedu

In Kathirvedu, there are 78 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,500 per sq.ft. The guideline value of Sri Padmavathy Nagar is above this median.

• Srinivasa Nagar Extn.: Rs 2,000 per sq.ft (2024)
• Srinivasa Nagar: Rs 2,000 per sq.ft (2024)
• Sri Ranga Avenue (Madras City Co- Operarive Building Socity Nagar): Rs 2,200 per sq.ft (2024)
• Sri Sai Nagar: Rs 1,400 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 1,800 per sq.ft (2024)
• Sri Lakshmi Amman Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Padmavathy Nagar

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost to Rs 2,43,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Padmavathy Nagar?

The Sub Registrar Office that covers Sri Padmavathy Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Kathirvedu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price as determined by the government. This helps maintain transparency in property dealings and ensures that the appropriate taxes are collected.

Frequently asked questions

What is the current guideline value of Sri Padmavathy Nagar?

The current guideline value of Sri Padmavathy Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 210 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, reflecting a significant increase over the years.

What is the land classification for Sri Padmavathy Nagar?

Sri Padmavathy Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Sri Padmavathy Nagar?

The stamp duty is charged at 7% on the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Where is the Sub Registrar Office for Sri Padmavathy Nagar located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.