Guideline Value for Padavatamman Koil Cross Street

Padavatamman Koil Cross Street guideline value

The current guideline value of Padavatamman Koil Cross Street is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Kaspapuram village and falls under the Tambaram Joint 1 SRO, classified as Residential Class II Type - I.

How the guideline value of Padavatamman Koil Cross Street has changed

The guideline value for Padavatamman Koil Cross Street has undergone several revisions over the years. The earliest available figure is from 2012, where the guideline value was Rs 400 per sq.ft. This was followed by a decrease to Rs 268 per sq.ft in 2017, representing a decline of 33%. In 2023, the value increased to Rs 400 per sq.ft, and then further rose to Rs 440 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In summary, the guideline value has changed significantly over the years. From 2017 to 2023, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kaspapuram

Kaspapuram village has a total of 76 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,300 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, indicating that Padavatamman Koil Cross Street's 2024 figure is below this median.

• Padavatamman Koil Street: Rs 440 per sq.ft (2024)
• Nesamani Chellammal Avenue: Rs 1,650 per sq.ft (2024)
• Nehru Street: Rs 550 per sq.ft (2024)
• Pillaiyar Koil 4th Street: Rs 550 per sq.ft (2024)
• Pillaiyar Koil 5th Street: Rs 550 per sq.ft (2024)
• Pillaiyar Koil 6th Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Padavatamman Koil Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total cost together to Rs 39,600. It is essential to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padavatamman Koil Cross Street?

The Sub Registrar Office that covers Padavatamman Koil Cross Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kaspapuram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the correct revenue from property transactions.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is accurately reflected in the official records, providing transparency and legal clarity for both parties involved.

Frequently asked questions

What is the current guideline value of Padavatamman Koil Cross Street?

The current guideline value of Padavatamman Koil Cross Street is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 400 per sq.ft in 2012, decreasing to Rs 268 per sq.ft in 2017, and then increasing to Rs 400 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 440 per sq.ft.

What is the land classification for Padavatamman Koil Cross Street?

Padavatamman Koil Cross Street is classified as Residential Class II Type - I, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for property in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot at the guideline value of Rs 440 per sq.ft, the total stamp duty and registration fees would amount to Rs 39,600.

Which Sub Registrar Office covers this street?

The Tambaram Joint 1 Sub Registrar Office covers Padavatamman Koil Cross Street, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.