Guideline Value for PADAVATTAMMAN KOIL STREET

Padavattamman Koil Street guideline value

The current guideline value of Padavattamman Koil Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Padavattamman Koil Street has changed

The guideline value for Padavattamman Koil Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,800 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 178%. However, it decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. By the 2023 revision, the value rose again to Rs 5,000 per sq.ft, and the latest revision in 2024 set the value at Rs 5,500 per sq.ft, reflecting a 10% increase.

There are no recorded figures for Padavattamman Koil Street in the revisions of 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 206%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value is Rs 5,500 per sq.ft, which is exactly the guideline value for Padavattamman Koil Street.

• Paddy Field 1st Lane: Rs 4,400 per sq.ft (2024)
• Otthavadai Street: Rs 4,900 per sq.ft (2024)
• Otteri Nullah: Rs 4,900 per sq.ft (2024)
• Ormes Street & Road: Rs 13,200 per sq.ft (2024)
• Ormes Road 4th Cross Street: Rs 8,800 per sq.ft (2024)
• Ormes Road 3rd Cross Street: Rs 8,800 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 guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000, totaling 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.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padavattamman Koil Street?

Padavattamman Koil Street falls under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Purasaivakkam. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both parties. It is important 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 Street?

The current guideline value of Padavattamman Koil Street 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 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 206% over the years.

What is the land classification for Padavattamman Koil Street?

Padavattamman Koil Street is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles the registration for Padavattamman Koil Street?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, handles the registration for Padavattamman Koil Street.