Guideline Value for PADAVATTAMMAN KOIL STREET

Padavattamman Koil Street guideline value

The current guideline value of Padavattamman Koil Street is Rs 4,400 per sq.ft, as per the 2024 revision effective from 1 July 2024. This street is located in Mambalam village, under the Thiyagaraya nagar SRO, and is classified as Residential Class III Type - III.

How the guideline value of Padavattamman Koil Street has changed

Over the years, the guideline value of Padavattamman Koil Street has seen significant changes. In the 2002 revision, the value was Rs 745 per sq.ft. This increased to Rs 827 per sq.ft in 2003, marking an 11% rise. The value continued to rise to Rs 1,000 per sq.ft in 2007, which was a 21% increase. By 2012, the guideline value reached Rs 4,000 per sq.ft, reflecting a substantial 300% increase from the previous revision. However, in the 2017 revision, the value dropped to Rs 2,680 per sq.ft, showing a decrease of 33%. The guideline value then increased to Rs 4,000 per sq.ft in 2023, before reaching the current value of Rs 4,400 per sq.ft in 2024, which is a 10% increase.

It is important to note that there are no figures available for revisions in years not listed. Thus, the guideline values for Padavattamman Koil Street are only available for the years mentioned above.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, indicating that Padavattamman Koil Street's 2024 figure is below that median.

• Padavattamman Koil Street (West): Rs 4,400 per sq.ft (2024)
• Ottakuthar Street: Rs 5,500 per sq.ft (2024)
• Old Mambalam Road: Rs 8,800 per sq.ft (2024)
• Palmore Street: Rs 4,400 per sq.ft (2024)
• Pandian Street Northern Side Of Fifth Main Road: Rs 6,600 per sq.ft (2024)
• Panneerselavm Nagar: Rs 6,600 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 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, these fees would total Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Padavattamman Koil Street?

The Sub Registrar Office that covers Padavattamman Koil Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. For more information, you can find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Mambalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Padavattamman Koil Street?

The current guideline value of Padavattamman Koil Street is Rs 4,400 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 745 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 491% over the years.

What is the land classification for Padavattamman Koil Street?

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

What are the stamp duty and registration fees for a property in Padavattamman Koil Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Thiyagaraya nagar Sub Registrar Office located?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.