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 Ninna Karai 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. In the 2012 revision, the value was Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in 2017. The 2023 revision saw a significant increase to Rs 600 per sq.ft, followed by another increase to Rs 660 per sq.ft in 2024, marking a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for the village is Rs 1,100 per sq.ft, placing Padmavathi Avenue's 2024 figure below that 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)
• Paavendar Nagar: Rs 1,980 per sq.ft (2024)
• Paavanar Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Ottakoothar Street (Ward -6): Rs 1,321 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 charges to Rs 59,400. It is important to note that 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 details.

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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Ninna Karai. It serves as a benchmark for the minimum price at which properties can be registered, ensuring that the government collects appropriate stamp duty and registration fees.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to calculate the stamp duty and registration fees. This ensures that all transactions are fairly assessed and documented according to the established guidelines.

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, and then increased to Rs 600 per sq.ft in 2023, finally reaching Rs 660 per sq.ft in 2024.

What is the land classification for Padmavathi Avenue?

Padmavathi Avenue is classified as Residential Class I Type - III under the Chengleput Joint II SRO.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles registrations for Padmavathi Avenue?

The Chengleput Joint II Sub Registrar Office handles registrations for Padmavathi Avenue (Ward -19), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.