Guideline Value for Padmanaban Street

Padmanaban Street guideline value

The current guideline value of Padmanaban Street in Konnur village, under the Konnur SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Padmanaban Street has changed

The guideline value for Padmanaban Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 314 per sq.ft. In 2003, it increased to Rs 341 per sq.ft, marking a 9% rise. The 2007 revision saw a significant jump to Rs 700 per sq.ft, which was a 105% increase. However, in 2012, the value decreased to Rs 5,000 per sq.ft, reflecting a decline of 33% from the previous revision. The 2017 revision brought the value up to Rs 3,350 per sq.ft, a 49% increase. In 2023, it was revised to Rs 5,000 per sq.ft, and finally, the current value is Rs 5,500 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 1652%. There are no revisions with figures missing for Padmanaban Street.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft, with a median value of Rs 3,800 per sq.ft. Padmanaban Street's current guideline value is above this median.

• Palaniandavar Kovil Street: Rs 7,100 per sq.ft (2024)
• Palliamman Kovil Street: Rs 5,500 per sq.ft (2024)
• North Redhills Road: Rs 5,500 per sq.ft (2024)
• North Madaveethi: Rs 5,500 per sq.ft (2024)
• North Jaganatha Nagar Third Prathna Salai: Rs 5,500 per sq.ft (2024)
• North Jaganatha Nagar Second Prathna Salai: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Padmanaban Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total charges to Rs 4,95,000. It is important to 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 Padmanaban Street?

The Sub Registrar Office that covers Padmanaban Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for additional information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Konnur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the agreed sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Padmanaban Street?

The current guideline value of Padmanaban Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 314 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1652%.

What is the land classification for Padmanaban Street?

Padmanaban Street is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Padmanaban Street?

The Sub Registrar Office for Padmanaban Street is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for properties in Padmanaban Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 3,85,000.