Guideline Value for Padavattamman Koil St ( Ward No.1 )

Padavattamman Koil St ( Ward No.1 ) guideline value

The current guideline value of Padavattamman Koil St ( Ward No.1 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Padavattamman Koil St ( Ward No.1 ) has changed

Over the years, the guideline value for Padavattamman Koil St has seen several revisions. The earliest available figure is from 2012, which was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. The 2023 revision saw an increase to Rs 1,200 per sq.ft, and the most recent 2024 revision adjusted it to Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

The guideline values for properties in Madhavaram range from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Padavattamman Koil St ( Ward No.1 ) is below this median.

• Padavattamman Koil St South ( Ward No.1 ): Rs 1,300 per sq.ft (2024)
• Padavattamman Koil Street: Rs 1,300 per sq.ft (2024)
• Padavattamman Koil St North ( Ward No.1 ): Rs 1,300 per sq.ft (2024)
• Padavattamman Koil St Earikarai K.K. Thalai (Ward 1 ): Rs 1,300 per sq.ft (2024)
• Padmagiri Nagar (Ward 2 ): Rs 2,200 per sq.ft (2024)
• Pachaiappan Naicken Thottam (Ward-02): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padavattamman Koil St ( Ward No.1 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padavattamman Koil St ( Ward No.1 )?

The Sub Registrar Office that covers Padavattamman Koil St ( Ward No.1 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When you register a property, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Padavattamman Koil St ( Ward No.1 )?

The current guideline value of Padavattamman Koil St ( Ward No.1 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

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

For a 1,000 sq.ft plot, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000 based on the current guideline value.

Which office handles property registrations for Padavattamman Koil St ( Ward No.1 )?

The Madhavaram Sub Registrar Office handles property registrations for Padavattamman Koil St ( Ward No.1 ). It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Padavattamman Koil St ( Ward No.1 )?

Padavattamman Koil St ( Ward No.1 ) is classified as Residential Class III Type - I under the guideline value register.