Guideline Value for Padavettamman Kovil Street

Padavettamman Kovil Street guideline value

The current guideline value of Padavettamman Kovil Street is Rs 305 per sq.ft, effective from 1 July 2024. This street is located in Mambakkam village, under the Sunguvarchattram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Padavettamman Kovil Street has changed

The guideline value for Padavettamman Kovil Street has undergone several revisions. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 200 per sq.ft, which increased to Rs 305 per sq.ft in the 2024 revision, marking a change of +53%.

The current figure of Rs 305 per sq.ft aligns with the median guideline value for the 39 streets in Mambakkam under the Sunguvarchattram SRO, which range from Rs 200 to Rs 1,418 per sq.ft.

Guideline values in Mambakkam

In Mambakkam, the guideline values vary across different streets. The current guideline value of Padavettamman Kovil Street is equal to the median value of Rs 305 per sq.ft. Below are the guideline values for other streets in Mambakkam:

• Pallikooda East Street: Rs 305 per sq.ft (2024)
• PalliKooda Street: Rs 305 per sq.ft (2024)
• New Avenue: Rs 500 per sq.ft (2024)
• Narayana Nagar: Rs 505 per sq.ft (2024)
• Perumal Kovil Street: Rs 305 per sq.ft (2024)
• Naddu Street: Rs 275 per sq.ft (2024)

Stamp duty and registration fee for property in Padavettamman Kovil Street

For a 1,000 sq.ft plot at the current rate of Rs 305 per sq.ft, the guideline value would be Rs 3,05,000. The stamp duty at 7% would amount to Rs 21,350, and the registration fee at 2% would be Rs 6,100, totaling Rs 27,450. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padavettamman Kovil Street?

The Sub Registrar Office that covers Padavettamman Kovil Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is either used as the basis for calculating the stamp duty or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Padavettamman Kovil Street?

The current guideline value of Padavettamman Kovil Street is Rs 305 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 200 per sq.ft in 2023 to Rs 305 per sq.ft in 2024, representing a change of +53%.

What is the land classification for Padavettamman Kovil Street?

Padavettamman Kovil Street is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Padavettamman Kovil Street?

The Sub Registrar Office for Padavettamman Kovil Street is located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in Mambakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 3,05,000, the stamp duty would be 7% of that amount.