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 Sattamangalam 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 decreased to Rs 402 per sq.ft, marking a decline of 33%. In 2023, the guideline value increased to Rs 600 per sq.ft, and the latest 2024 revision has raised it to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 600 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%, moving from Rs 600 per sq.ft in 2012 to Rs 660 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam village, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, positioning 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)
• Osiya Nagar: Rs 990 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 duty is charged on the higher of the guideline value and 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 Sattamangalam

The guideline value is a critical factor in property transactions in Sattamangalam. It serves as a benchmark for determining the minimum price at which properties can be registered. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with local regulations.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the property transaction, based on the established rates set by the Registration Department.

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 several times, with the most recent increase from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024. It decreased from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017 before increasing again in subsequent years.

What is the land classification for Padmavathi Avenue?

Padmavathi Avenue is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Padmavathi Avenue?

The Chengleput Joint II Sub Registrar Office covers Padmavathi Avenue and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, for a 1,000 sq.ft plot at Rs 660 per sq.ft, the total fees would amount to Rs 59,400.