Guideline Value for Padavattamman south Street

Padavattamman south Street guideline value

The current guideline value of Padavattamman south Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Chindadripet village, under the Periamet Sub Registrar Office (SRO). The land classification for this area is Residential Class IV Type - I.

How the guideline value of Padavattamman south Street has changed

The guideline value for Padavattamman south Street has undergone several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,300 per sq.ft in 2012. However, there was a decrease to Rs 1,541 per sq.ft in 2017. The value then rose to Rs 2,300 per sq.ft in 2023, before reaching the current rate of Rs 2,500 per sq.ft in 2024.

Between the revisions, the changes were as follows: from 2007 to 2012, there was a remarkable increase of 229%. However, from 2012 to 2017, the value decreased by 33%. The value then increased by 49% from 2017 to 2023, and finally, there was a 9% increase from 2023 to 2024. The overall increase from 2007 to 2024 is 257%. The register has no figures for the years 2002 and 2003 for this street.

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, with a median value of Rs 3,300 per sq.ft. The guideline value of Padavattamman south Street is below this median.

• Padavattamman lane: Rs 3,300 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 south Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, making the total charges Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padavattamman south Street?

The Sub Registrar Office that covers Padavattamman south 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

The guideline value is a crucial factor when registering property transactions in Chindadripet. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the appropriate taxes are applied based on the property's value.

When a buyer or seller engages in a transaction, the guideline value is considered to determine the legal obligations associated with the sale. It is essential for both parties to be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Padavattamman south Street?

The current guideline value of Padavattamman south Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024, with various increases and decreases across the years.

What is the land classification for Padavattamman south Street?

Padavattamman south Street is classified as Residential Class IV Type - I.

Where can I find the Periamet Sub Registrar Office?

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

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value is Rs 25,00,000, leading to a stamp duty of Rs 1,75,000.