Guideline Value for Padavattamman Koil street

Padavattamman Koil street guideline value

The current guideline value of Padavattamman Koil street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Chindadripet village, under the Periamet SRO, and is classified as Residential Class III Type - I.

How the guideline value of Padavattamman Koil street has changed

Since the 2007 revision, the guideline value for Padavattamman Koil street has seen significant changes. In 2007, the guideline value was Rs 960 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012. However, there was a decrease to Rs 2,010 per sq.ft in 2017. The value then rose to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024. The revisions for the years 2002 and 2003 have no figures recorded for this street.

From 2017 to 2023, the guideline value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. The jump from 2007 to 2012 was significant at 213%. Overall, from 2007 to 2024, the guideline value has increased by 244%.

Guideline values in Chindadripet

In Chindadripet village, there are 98 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,500 to Rs 18,100 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current value of Padavattamman Koil street. Below are the guideline values for other streets in Chindadripet:

• Padavatamman Kovil 1st lane: Rs 3,300 per sq.ft (2024)
• Padavatamman Koil North Street: Rs 2,500 per sq.ft (2024)
• Padavatamman koil East Street: Rs 2,500 per sq.ft (2024)
• Padavatamman Koil 1st lane: Rs 2,500 per sq.ft (2024)
• Padavattamman lane: Rs 3,300 per sq.ft (2024)
• Padavattamman south Street: Rs 2,500 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 precise calculations.

Which Sub Registrar Office covers Padavattamman Koil street?

The Sub Registrar Office that covers Padavattamman Koil street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

When buying or selling property in Chindadripet, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is the minimum value at which property transactions are registered, ensuring that the government receives appropriate revenue from property sales.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the financial aspects of the transaction. The registration process requires that the property be registered at or above the guideline value, which helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Padavattamman Koil street?

The current guideline value of Padavattamman Koil street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 960 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 244% over the years.

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 registration office for Padavattamman Koil street?

The registration office for Padavattamman Koil street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Padavattamman Koil street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000.