Guideline Value for Padavattamman Koil Street

Padavattamman Koil Street guideline value

The current guideline value of Padavattamman Koil Street 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 Street has changed

The guideline value for Padavattamman Koil Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, an increase of 8% from the 2023 revision of Rs 1,200 per sq.ft. Prior to that, in 2017, the value was Rs 804 per sq.ft, which marks a significant increase of 49% to the 2023 figure. The 2012 revision also had a value of Rs 1,200 per sq.ft, representing a decrease of 33% from the 2017 figure.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, indicating that Padavattamman Koil Street's 2024 figure is below that median.

• 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)
• Padavattamman Koil St South ( Ward No.1 ): Rs 1,300 per sq.ft (2024)
• Padavattamman Koil St ( Ward No.1 ): Rs 1,300 per sq.ft (2024)
• Pachaiappan Naicken Thottam (Ward-02): Rs 1,300 per sq.ft (2024)
• Pachaiappan Nagar (Ward No.29): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padavattamman Koil Street

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

You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Padavattamman Koil Street?

The Sub Registrar Office that covers Padavattamman Koil Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Madhavaram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees payable to the government.

It is essential to be aware that the guideline value is updated periodically, and it reflects the market conditions and land classification in the area. Buyers and sellers should refer to the latest guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Padavattamman Koil Street?

The current guideline value of Padavattamman Koil Street 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 804 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2024, with various revisions in between, including Rs 1,200 per sq.ft in 2023 and 2012.

What is the land classification of Padavattamman Koil Street?

Padavattamman Koil Street is classified as Residential Class III Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Padavattamman Koil Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.