Guideline Value for PADMAVATHI AVENUE (WARD -19)

Padmavathi Avenue (Ward -19) guideline value

The current guideline value of Padmavathi Avenue (Ward -19) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Padmavathi Avenue (Ward -19) has changed

The guideline value for Padmavathi Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 402 per sq.ft, marking a decline of 33%. The value then rose significantly to Rs 600 per sq.ft in the 2023 revision, and further increased to the current Rs 660 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

In total, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The 2023 to 2024 revision shows a 10% increase as well, while the jump from 2017 to 2023 indicates a substantial rise of 49%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kattankollatur

Kattankollatur village has a total of 453 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,612 per sq.ft as of 2024. The median guideline value for the area is Rs 1,100 per sq.ft, placing Padmavathi Avenue's current value below this median.

• Paaventhar Street (Ward -7): Rs 1,980 per sq.ft (2024)
• Paaventhar Street (Ward -5): Rs 1,980 per sq.ft (2024)
• Paavendar Steet (Ward -6): Rs 1,980 per sq.ft (2024)
• Paavanar Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Ottakoothar Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Om Sakthi Street (Ward -15): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathi Avenue (Ward -19)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. 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 Padmavathi Avenue (Ward -19)?

The Sub Registrar Office that covers Padmavathi Avenue (Ward -19) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kattankollatur. 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 sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the correct amount of revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Padmavathi Avenue (Ward -19)?

The current guideline value of Padmavathi Avenue (Ward -19) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Padmavathi Avenue?

The land classification for Padmavathi Avenue (Ward -19) is Residential Class I Type - III.

What are the stamp duty rates for properties in Padmavathi Avenue?

The stamp duty rate for properties in Padmavathi Avenue is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Padmavathi Avenue located?

The Sub Registrar Office covering Padmavathi Avenue (Ward -19) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.