Guideline Value for Padavattamman lane

Padavattamman lane guideline value

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

How the guideline value of Padavattamman lane has changed

The guideline value for Padavattamman lane has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 329%. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a drop of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, showing a substantial rise of 49% before reaching the current value of Rs 3,300 per sq.ft in 2024, an increase of 10% from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 371%.

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 value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Padavattamman lane.

• Padavattamman south Street: Rs 2,500 per sq.ft (2024)
• Padavattamman West Street: Rs 2,500 per sq.ft (2024)
• Padavattamman Koil street: Rs 3,300 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Padavattamman lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please note that the 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 details.

Which Sub Registrar Office covers Padavattamman lane?

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

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

The guideline value is an essential factor in property transactions within Chindadripet. It serves as a benchmark for determining the minimum price at which properties can be registered. When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the buyer must pay the stamp duty based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the current market conditions as indicated by the guideline values.

Frequently asked questions

What is the current guideline value of Padavattamman lane?

The current guideline value of Padavattamman lane 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 significantly from Rs 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 371%.

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

Other streets in Chindadripet include Padavattamman south Street and Padavattamman West Street, both at Rs 2,500 per sq.ft, and Padavattamman Koil street and Padavatamman Kovil 1st lane, both at Rs 3,300 per sq.ft.

What is the stamp duty rate for properties in Padavattamman lane?

The stamp duty rate for properties in Padavattamman lane is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Padavattamman lane?

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