Guideline Value for PADMAVATHI STREET

Padmavathi Street guideline value

The current guideline value of Padmavathi Street is Rs 2,220 per sq.ft, effective from 1 July 2024. This street is located in Sivabootham village, under the Chennai South Joint I SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Padmavathi Street has changed

The guideline value for Padmavathi Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,220 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 2,010 per sq.ft. The 2017 revision also recorded the value at Rs 2,010 per sq.ft, indicating no change from 2017 to 2023. The register does not have figures for the years 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 10%. The consistent value of Rs 2,010 per sq.ft from 2017 to 2023 shows stability before the recent increase.

Guideline values in Sivabootham

In Sivabootham, there are 39 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,120 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Padmavathi Street's 2024 figure above this median.

• N.S.Nagar: Rs 1,210 per sq.ft (2024)
• Perumal Koil 1st Street: Rs 1,650 per sq.ft (2024)
• Perumal Koil 2nd Stree: Rs 1,650 per sq.ft (2024)
• Perumal Koil 3rd Stree: Rs 1,650 per sq.ft (2024)
• Perumal Koil Stree: Rs 1,650 per sq.ft (2024)
• Pilliyar Koil 1st Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,220 per sq.ft, the total guideline value would be Rs 22,20,000. The stamp duty at 7% would be Rs 1,55,400, and the registration fee at 2% would be Rs 44,400, bringing the total costs to Rs 1,99,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathi Street?

Padmavathi Street falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a critical component in the registration process of property transactions in Sivabootham. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction is in line with government valuations.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. This ensures transparency and fairness in the property registration process, safeguarding the interests of both buyers and sellers.

Frequently asked questions

What is the current guideline value of Padmavathi Street?

The current guideline value of Padmavathi Street is Rs 2,220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,010 per sq.ft in 2023 to Rs 2,220 per sq.ft in 2024, marking a 10% increase. The value remained at Rs 2,010 per sq.ft from 2017 to 2023.

What are the other streets in Sivabootham and their guideline values?

Other streets in Sivabootham include N.S.Nagar at Rs 1,210 per sq.ft, and several streets named Perumal Koil at Rs 1,650 per sq.ft each. These values are based on the 2024 revision.

What is the stamp duty for a property on Padmavathi Street?

The stamp duty for a property on Padmavathi Street is calculated at 7% of the guideline value. For a 1,000 sq.ft property, this amounts to Rs 1,55,400.

Which office handles the registration for Padmavathi Street?

The Chennai South Joint I Sub Registrar Office handles the registration for Padmavathi Street. It is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.