Guideline Value for Thirumalai Nagar Annex Padmavathi Avenue

Thirumalai Nagar Annex Padmavathi Avenue guideline value

The current guideline value of Thirumalai Nagar Annex Padmavathi Avenue is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Seevaram village and falls under the Neelankarai SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Thirumalai Nagar Annex Padmavathi Avenue has changed

The guideline value for Thirumalai Nagar Annex Padmavathi Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 5,000 per sq.ft, which then decreased to Rs 3,350 per sq.ft in the 2017 revision. Following that, the value increased significantly to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as per the 2024 revision. The changes from 2012 to 2017 reflect a decrease of 33%, while the increase from 2017 to 2023 was 49%, and the latest revision from 2023 to 2024 shows a rise of 10%.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 10% from the 2012 figure to the current 2024 figure.

Guideline values in Seevaram

In Seevaram, there are 84 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,300 per sq.ft. The median guideline value for these streets is Rs 2,800 per sq.ft, which means that Thirumalai Nagar Annex Padmavathi Avenue's current value is above this median.

• Thirumalai Nagar Annex Padmavathi Avenue Annex: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Bharathi Street: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annex 5th Cross Street: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annex 4th Cross Street: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annex 3rd Main Road: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annex 3rd Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar Annex Padmavathi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty, charged at 7%, would be Rs 3,85,000, and the registration fee at 2% would amount to Rs 1,10,000. Therefore, the total fees together would be Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thirumalai Nagar Annex Padmavathi Avenue?

The Sub Registrar Office that covers Thirumalai Nagar Annex Padmavathi Avenue is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

When buying or selling property in Seevaram, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Understanding the guideline value is essential for both buyers and sellers, as it impacts the overall cost of property transactions. It is advisable to check the latest guideline values before entering into any agreements to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar Annex Padmavathi Avenue?

The current guideline value of Thirumalai Nagar Annex Padmavathi Avenue is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft in 2024.

What is the land classification for Thirumalai Nagar Annex Padmavathi Avenue?

The land classification for Thirumalai Nagar Annex Padmavathi Avenue is Residential Special Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Thirumalai Nagar Annex Padmavathi Avenue is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Thirumalai Nagar Annex Padmavathi Avenue?

Stamp duty for properties in Thirumalai Nagar Annex Padmavathi Avenue is calculated at 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.