Guideline Value for PADAVATTAMMAN KOIL 3RD STREET

Padavattamman Koil 3rd Street guideline value

The current guideline value of Padavattamman Koil 3rd Street in Padi village is Rs 3,400 per sq.ft, effective from 1 July 2024. This street falls under the Villivakkam Sub Registrar Office and is classified as Residential Class IV Type - II.

How the guideline value of Padavattamman Koil 3rd Street has changed

The guideline value for Padavattamman Koil 3rd Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,400 per sq.ft, an increase of 10% from Rs 3,100 per sq.ft in 2023. Prior to that, in 2017, the value was Rs 2,077 per sq.ft, marking a significant increase of 49% over the six-year period until 2023.

In the 2012 revision, the guideline value was Rs 3,100 per sq.ft, which was a decrease of 33% from Rs 2,077 per sq.ft in 2017. Overall, from 2012 to 2024, the value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, which means that Padavattamman Koil 3rd Street's 2024 figure is below that median.

• Padavattamman Koil Street: Rs 3,400 per sq.ft (2024)
• Padavattamman Nagar: Rs 3,400 per sq.ft (2024)
• PADI BALAJI NAGAR 1st STREET: Rs 5,400 per sq.ft (2024)
• PADI BALAJI NAGAR 2nd STREET: Rs 5,400 per sq.ft (2024)
• PADI BALAJI NAGAR 3rd STREET: Rs 5,400 per sq.ft (2024)
• Padi Balaji Nagar "kuppusamy Street": Rs 5,400 per sq.ft (2024)

Stamp duty and registration fee for property in Padavattamman Koil 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value would be Rs 34,00,000. The stamp duty at 7% would amount to Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, bringing the total fees together to Rs 3,06,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator to estimate your costs.

Which Sub Registrar Office covers Padavattamman Koil 3rd Street?

The Sub Registrar Office that covers Padavattamman Koil 3rd Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration of property transactions in Padi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with government regulations.

When buying or selling property, the guideline value will influence the stamp duty and registration fees that need to be paid. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Padavattamman Koil 3rd Street?

The current guideline value of Padavattamman Koil 3rd Street is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,100 per sq.ft in 2023 to Rs 3,400 per sq.ft in 2024, which is a 10% increase. It was Rs 2,077 per sq.ft in 2017, showing a 49% increase over the subsequent years.

What is the land classification of Padavattamman Koil 3rd Street?

Padavattamman Koil 3rd Street is classified as Residential Class IV Type - II.

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

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Padi?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 34,00,000, the stamp duty would be Rs 2,38,000 at a rate of 7%.