Guideline Value for Padavattamman Street

Padavattamman Street guideline value

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

How the guideline value of Padavattamman Street has changed

The guideline value for Padavattamman Street has seen several revisions over the years. The earliest recorded value was Rs 300 per sq.ft in 2007, which increased significantly to Rs 700 per sq.ft in 2012, marking a 133% rise. However, it then decreased to Rs 469 per sq.ft in 2017, representing a 33% drop. The value rose again to Rs 700 per sq.ft in 2023, and then to Rs 770 per sq.ft in 2024, reflecting a 10% increase.

Notably, there are no figures available for the revisions in 2002 and 2003 for Padavattamman Street. Overall, from 2007 to 2024, the guideline value has increased by 157%.

Guideline values in Alamathi

In Alamathi village, there are 54 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 440 to Rs 1,100 per sq.ft. The median value is Rs 550 per sq.ft, placing Padavattamman Street's 2024 figure above this median.

• N.R.V. Nagar: Rs 550 per sq.ft (2024)
• New Star City Annex: Rs 660 per sq.ft (2024)
• New Star City: Rs 550 per sq.ft (2024)
• Parthiban Nagar: Rs 550 per sq.ft (2024)
• Pelican Nagar: Rs 550 per sq.ft (2024)
• Perumal Koil Street: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Padavattamman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total fees to Rs 69,300. 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 information.

Which Sub Registrar Office covers Padavattamman Street?

The Sub Registrar Office that covers Padavattamman 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Alamathi. It serves as a reference point for determining the stamp duty and registration fees that need to be paid, ensuring compliance with local regulations.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the transaction is registered accurately according to the prevailing regulations.

Frequently asked questions

What is the current guideline value of Padavattamman Street?

The current guideline value of Padavattamman 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 300 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, marking an overall increase of 157% over the years.

What is the registration office for Padavattamman Street?

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

How is stamp duty calculated for properties in Padavattamman 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 7,70,000, the stamp duty at 7% would be Rs 53,900.

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

Other streets in Alamathi include N.R.V. Nagar at Rs 550 per sq.ft, New Star City Annex at Rs 660 per sq.ft, and Perumal Koil Street at Rs 990 per sq.ft, among others.