Guideline Value for Padhuvancheri Mettu Street

Padhuvancheri Mettu Street guideline value

The current guideline value of Padhuvancheri Mettu Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Padhuvancheri Mettu Street has changed

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 1,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% rise from the previous year. The register has no figures for the revisions in 2002, 2003, 2007, and 2017.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The most recent change from 2023 to 2024 reflects a positive adjustment in the guideline value, moving from Rs 1,200 to Rs 1,300 per sq.ft.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this village is Rs 2,400 per sq.ft, making the 2024 figure for Padhuvancheri Mettu Street lower than the median.

• Padhuvancheri Mayana Salai: Rs 1,100 per sq.ft (2024)
• Padhuvancheri Road: Rs 2,700 per sq.ft (2024)
• Padhuvancheri Main Road: Rs 2,750 per sq.ft (2024)
• Padhuvancheri Sudalai Road: Rs 1,600 per sq.ft (2024)
• Padhuvancheri Link Road: Rs 1,100 per sq.ft (2024)
• Padhuvancheri Vinayagar Koil Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Padhuvancheri Mettu Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padhuvancheri Mettu Street?

The Sub Registrar Office covering Padhuvancheri Mettu Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Madambakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the government and is used as a benchmark for these calculations, ensuring that transactions are recorded accurately in the official register.

It is important to note that the guideline value may differ from the actual sale price of the property. Buyers and sellers should be aware that the higher of the two values will be used to calculate the applicable duties and fees at the time of registration.

Frequently asked questions

What is the current guideline value of Padhuvancheri Mettu Street?

The current guideline value of Padhuvancheri Mettu Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,200 per sq.ft from 2012 to 2023, before increasing to Rs 1,300 per sq.ft in 2024, marking an overall increase of 8% since 2012.

What is the land classification for Padhuvancheri Mettu Street?

Padhuvancheri Mettu Street is classified as Residential Class II Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles the registration for properties in Padhuvancheri Mettu Street?

The Selaiyur Sub Registrar Office is responsible for property registrations in Padhuvancheri Mettu Street, located in East Tambaram, Chennai.