Guideline Value for PADMAVATHI AVENUE (WARD -19)

Padmavathi Avenue (Ward -19) guideline value

The current guideline value of Padmavathi Avenue (Ward -19) is Rs 661 per sq.ft, effective from 1 July 2024. This street is located in Peramanoor 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 undergone 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 dropped to Rs 402 per sq.ft, marking a decrease of 33%. In the subsequent 2023 revision, the value increased significantly to Rs 600 per sq.ft, and then further rose by 10% to Rs 661 per sq.ft in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a total increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value of Padmavathi Avenue (Ward -19) is 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 550 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 661 per sq.ft, the total guideline value amounts to Rs 6,61,000. The stamp duty at 7% would be Rs 46,270, and the registration fee at 2% would be Rs 13,220, bringing the total cost for these fees to Rs 59,490. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

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 Peramanoor

The guideline value is a crucial factor in property transactions in Peramanoor. It serves as a reference point for determining the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate stamp duty and registration fees, ensuring that these costs are based on a standard valuation.

During the registration process, buyers and sellers must ensure that the sale price of the property is either equal to or greater than the guideline value. This prevents undervaluation and ensures that the government receives the appropriate revenue from property transactions.

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 661 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 661 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.

Where can I find the Chengleput Joint II Sub Registrar Office?

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

How is stamp duty calculated for properties in Padmavathi Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property at the guideline value of Rs 661 per sq.ft, the total guideline value would be Rs 6,61,000, leading to specific stamp duty and registration fees.