Guideline Value for PADAVETTAMMAN KOIL STREET

Padavettamman Koil Street guideline value

The current guideline value of Padavettamman Koil Street is Rs 2,200 per sq.ft, as per the 2024 revision effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO, and it falls under the Residential Class II Type - III land classification.

How the guideline value of Padavettamman Koil Street has changed

The guideline value for Padavettamman Koil Street has seen several revisions over the years. In the 2023 revision, the value was set at Rs 2,000 per sq.ft. The most recent revision in 2024 increased this value by 10% to Rs 2,200 per sq.ft. The register has no figures for this street for the years 2002, 2003, 2007, 2012, and 2017.

Prior to the 2023 revision, the guideline values for Padavettamman Koil Street were not recorded in the register. The current value of Rs 2,200 per sq.ft aligns with the median guideline value for the 754 streets in Sholinganallur - 1, which also stands at Rs 2,200 per sq.ft as of 2024.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, the guideline values range from Rs 1,000 to Rs 8,800 per sq.ft, with the median being Rs 2,200 per sq.ft. Padavettamman Koil Street's 2024 guideline value is equal to this median. Below are the guideline values for other streets in Sholinganallur - 1:

• Padavettamman Koil Main Street: Rs 2,200 per sq.ft (2024)
• Padavettamman Koil Main Road: Rs 2,200 per sq.ft (2024)
• Padavettamman Koil 5th Street: Rs 2,200 per sq.ft (2024)
• Padavettamman Koil 4th Street: Rs 2,200 per sq.ft (2024)
• Padavettamman Koil 4th Road: Rs 2,200 per sq.ft (2024)
• Padavettamman Koil 3rd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Padavettamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padavettamman Koil Street?

The Sub Registrar Office that covers Padavettamman Koil Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role during the registration of property transactions in Sholinganallur - 1. It is used to determine the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is considered for calculating the stamp duty. This ensures that the fees reflect the value of the property accurately.

Frequently asked questions

What is the current guideline value of Padavettamman Koil Street?

The current guideline value of Padavettamman Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017 for this street.

What are the registration fees for property in Padavettamman Koil Street?

The registration fees for a property in Padavettamman Koil Street include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Padavettamman Koil Street?

The Neelankarai Sub Registrar Office handles registrations for Padavettamman Koil Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

What is the land classification for Padavettamman Koil Street?

Padavettamman Koil Street falls under the Residential Class II Type - III land classification, indicating its use for residential purposes.