Guideline Value for PADAVATTAMMAN KOIL STREET

Padavattamman Koil Street guideline value

The current guideline value of Padavattamman Koil Street is Rs 3,400 per sq.ft, effective from 1 July 2024. This street is located in Padi village, under the Villivakkam SRO, and is classified as Residential Class IV 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 460 per sq.ft, which increased to Rs 520 per sq.ft in 2003, marking a 13% rise. The value further increased to Rs 900 per sq.ft in 2007, reflecting a significant growth of 73%. By 2012, the value was Rs 3,100 per sq.ft, which represented a substantial increase of 244% from the previous revision. However, this value dropped to Rs 2,077 per sq.ft in 2017, indicating a decrease of 33%. The guideline value then rose to Rs 3,100 per sq.ft in 2023, and finally reached Rs 3,400 per sq.ft in the 2024 revision, showing a 10% increase.

Overall, from 2002 to 2024, the guideline value for Padavattamman Koil Street has increased by 639%. There are no figures available for any revisions other than those stated above.

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, placing Padavattamman Koil Street's 2024 figure below that median.

• Padavattamman Nagar: Rs 3,400 per sq.ft (2024)
• Padavattamman Koil 3rd Street: 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 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 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.

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 Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Padi. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during property transactions.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This value is compared with the sale price, and the higher of the two is used to determine the fees, ensuring that the transaction is conducted transparently and fairly.

Frequently asked questions

What is the current guideline value of Padavattamman Koil Street?

The current guideline value of Padavattamman Koil 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 significantly from Rs 460 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 639% over this period.

What is the land classification for Padavattamman Koil Street?

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

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

The registration office for Padavattamman Koil Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

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. For example, for a property valued at Rs 34,00,000, the stamp duty at 7% would be Rs 2,38,000.