Guideline Value for Padavatamman Koil Street

Padavatamman Koil Street guideline value

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

How the guideline value of Padavatamman Koil Street has changed

The guideline value for Padavatamman Koil Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 400 per sq.ft. This remained unchanged until the next revision in 2017, where it decreased to Rs 268 per sq.ft. However, from 2017 to 2023, there was a significant increase to Rs 400 per sq.ft. The most recent revision in 2024 saw a further increase to Rs 440 per sq.ft, marking a 10% rise from the previous year.

In summary, the guideline value has changed as follows: from Rs 400 in 2012 to Rs 268 in 2017, then up to Rs 400 in 2023, and finally reaching Rs 440 in 2024. There are no recorded figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kaspapuram

In Kaspapuram, there are 76 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 440 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Padavatamman Koil Street's 2024 figure below that median.

• Padavatamman Koil Cross 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. 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 detailed calculations.

Which Sub Registrar Office covers Padavatamman Koil Street?

The Sub Registrar Office that covers Padavatamman Koil 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 more information.

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 minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees, which are based on the higher of the guideline value or the sale price. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Padavatamman Koil Street?

The current guideline value of Padavatamman Koil 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 changed from Rs 400 in 2012 to Rs 268 in 2017, then up to Rs 400 in 2023, and finally to Rs 440 in 2024.

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

Other streets in Kaspapuram include Padavatamman Koil Cross Street at Rs 440 per sq.ft, Nesamani Chellammal Avenue at Rs 1,650 per sq.ft, and Nehru Street at Rs 550 per sq.ft, among others.

What fees are associated with buying property on Padavatamman Koil Street?

When buying property on Padavatamman Koil Street, you will incur a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Padavatamman Koil Street?

The Sub Registrar Office for Padavatamman Koil Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.