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 Panangottur 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

Over the years, the guideline value of Padmavathi Avenue (Ward -19) has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which was followed by a decrease to Rs 402 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 600 per sq.ft, and the most recent 2024 revision has further increased it to Rs 660 per sq.ft, marking a 10% rise from the previous year.

In summary, the changes between revisions include a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, and an overall increase of 10% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 990 per sq.ft, placing Padmavathi Avenue's 2024 figure 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 rate of Rs 660 per sq.ft, the guideline value totals 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, making the total Rs 59,400. 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 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, 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 Panangottur

The guideline value is a crucial factor during property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements and to calculate applicable duties and fees.

When a property is sold, the guideline value serves as a benchmark for calculating stamp duty and registration fees. It is essential for both parties to be aware of the current guideline value to avoid disputes and ensure a smooth transaction process.

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 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?

Padmavathi Avenue (Ward -19) is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for a property in Padmavathi Avenue?

For a 1,000 sq.ft property, the total guideline value is Rs 6,60,000. The stamp duty is Rs 46,200, and the registration fee is Rs 13,200, totaling Rs 59,400.

Where is the Sub Registrar Office for Padmavathi Avenue located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.