Guideline Value for Padhuvancheri Vinayagar Koil Street

Padhuvancheri Vinayagar Koil Street guideline value

The current guideline value of Padhuvancheri Vinayagar Koil Street is Rs 1,100 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 III Type - I.

How the guideline value of Padhuvancheri Vinayagar Koil Street has changed

The guideline value for Padhuvancheri Vinayagar Koil Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,000 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 670 per sq.ft. However, the value increased significantly in the following revisions, reaching Rs 1,000 per sq.ft in 2023 and finally Rs 1,100 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The overall change from 2012 to 2024 shows a 10% increase, indicating fluctuations in the guideline value over time. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value of Padhuvancheri Vinayagar Koil Street is below this median.

• Padhuvancheri Sudalai Road: Rs 1,600 per sq.ft (2024)
• Padhuvancheri Road: Rs 2,700 per sq.ft (2024)
• Padhuvancheri Mettu Street: Rs 1,300 per sq.ft (2024)
• Padhuvancheri Mayana Salai: Rs 1,100 per sq.ft (2024)
• Padhuvancheri Main Road: Rs 2,750 per sq.ft (2024)
• Padhuvancheri Link Road: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Padhuvancheri Vinayagar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Padhuvancheri Vinayagar Koil Street?

The Sub Registrar Office that covers Padhuvancheri Vinayagar Koil 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

The guideline value is a crucial factor when buying or selling property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value may differ from the actual sale price of the property.

When registering a property, the authorities will assess the higher amount between the guideline value and the sale price to calculate the applicable duties and fees. This ensures that the government receives the correct revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Padhuvancheri Vinayagar Koil Street?

The current guideline value of Padhuvancheri Vinayagar Koil Street is Rs 1,100 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 1,000 per sq.ft in 2012 to Rs 1,100 per sq.ft in 2024, with fluctuations in between, including a drop to Rs 670 per sq.ft in 2017.

What is the land classification for Padhuvancheri Vinayagar Koil Street?

The land classification for Padhuvancheri Vinayagar Koil Street is Residential Class III Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles the registration for Padhuvancheri Vinayagar Koil Street?

The Selaiyur Sub Registrar Office handles the registration for Padhuvancheri Vinayagar Koil Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.