Guideline Value for PADAVATTAMMAN KOIL STREET

Padavattamman Koil Street guideline value

The current guideline value of Padavattamman Koil Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village under the Kodambakkam SRO, classified as Residential Special Type - II.

How the guideline value of Padavattamman Koil Street has changed

The guideline value for Padavattamman Koil Street has seen several revisions over the years. In 2002, the value was Rs 974 per sq.ft, which increased to Rs 1,073 per sq.ft in 2003, marking a 10% rise. The value then rose to Rs 1,250 per sq.ft in 2007, reflecting a 16% increase. A significant jump occurred between 2007 and 2012, where the value surged to Rs 5,500 per sq.ft, representing a 340% increase. However, in 2017, the value decreased to Rs 3,685 per sq.ft, a drop of 33%. The guideline value then increased to Rs 5,500 per sq.ft in 2023, followed by a further rise to Rs 6,000 per sq.ft in 2024, which is a 9% increase.

Overall, from 2002 to 2024, the guideline value has increased by 516%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO, with values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value is Rs 6,000 per sq.ft, which is equal to the current value of Padavattamman Koil Street.

• Pachaiappan Street: Rs 5,000 per sq.ft (2024)
• Othavadai Street: Rs 3,300 per sq.ft (2024)
• N.S.K. Nagar Main Road: Rs 7,100 per sq.ft (2024)
• N.S.K. Nagar 9 Street: Rs 4,400 per sq.ft (2024)
• N.S.K. Nagar 8 Street: Rs 4,400 per sq.ft (2024)
• N.S.K. Nagar 7 Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Padavattamman Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 6,000 per sq.ft, the guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, totaling Rs 5,40,000. It is 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 Padavattamman Koil Street?

The Sub Registrar Office that covers Padavattamman Koil Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Arumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that the sale price is either equal to or higher than the guideline value to avoid any complications during the registration process.

Frequently asked questions

What is the current guideline value of Padavattamman Koil Street?

The current guideline value of Padavattamman Koil Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 974 per sq.ft in 2002 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 516% across the years.

What is the land classification for Padavattamman Koil Street?

Padavattamman Koil Street is classified as Residential Special Type - II under the Kodambakkam SRO.

Where can I find the registration office for Padavattamman Koil Street?

The registration office for Padavattamman Koil Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Padavattamman Koil Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 4,20,000.