Guideline Value for Padavattamman Koil Street

Padavattamman Koil Street guideline value

The current guideline value of Padavattamman Koil Street is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Nallur village under the Redhills SRO, classified as Residential Class I Type - I.

How the guideline value of Padavattamman Koil Street has changed

The guideline value for Padavattamman Koil Street has undergone several revisions over the years. In 2007, the guideline value was set at Rs 400 per sq.ft. This increased to Rs 700 per sq.ft in 2012, but then decreased to Rs 469 per sq.ft in 2017. Following this, the value rose significantly to Rs 700 per sq.ft in 2023, and most recently, it has reached Rs 770 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 93%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Nallur

In Nallur, there are 39 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,650 per sq.ft. The median guideline value in the village is Rs 550 per sq.ft, placing Padavattamman Koil Street's current value above this median.

• Padavattamman Koil 1st Cross Street: Rs 770 per sq.ft (2024)
• New Chengalamman Nagar: Rs 440 per sq.ft (2024)
• Perumal Koil Street: Rs 770 per sq.ft (2024)
• P.W.D. Bangalamedu 1st Street: Rs 550 per sq.ft (2024)
• P.W.D. Bangalamedu 2nd Street: Rs 550 per sq.ft (2024)
• P.W.D. Bangalamedu 3rd Street: Rs 550 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, while the registration fee at 2% would be Rs 15,400, bringing the total charges to Rs 69,300. It is important to note that 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 details.

Which Sub Registrar Office covers Padavattamman Koil Street?

The Sub Registrar Office that covers Padavattamman Koil Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Nallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value recognized by the government, which helps in maintaining transparency and accountability in real estate dealings.

Frequently asked questions

What is the current guideline value of Padavattamman Koil Street?

The current guideline value of Padavattamman Koil Street is Rs 770 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 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, showing an overall increase of 93% over this period.

What are the other streets in Nallur with their guideline values?

Other streets in Nallur include Padavattamman Koil 1st Cross Street and Perumal Koil Street, both valued at Rs 770 per sq.ft in 2024, as well as New Chengalamman Nagar at Rs 440 per sq.ft, and P.W.D. Bangalamedu 1st, 2nd, and 3rd Streets at Rs 550 per sq.ft.

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

Stamp duty for properties is calculated based on the higher of the guideline value or the sale price. For instance, for a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 at 7%.

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

The Sub Registrar Office for Padavattamman Koil Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.