Guideline Value for Padmanabha Street

Padmanabha Street guideline value

The current guideline value of Padmanabha Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village, under the Pammal Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - II.

How the guideline value of Padmanabha Street has changed

Over the years, the guideline value of Padmanabha Street has seen significant changes. In 2007, the guideline value was Rs 400 per sq.ft, which increased to Rs 804 per sq.ft in 2017, representing a 101% rise. The value further increased to Rs 1,200 per sq.ft in 2023, marking a 49% increase from the previous revision. The current guideline value of Rs 1,320 per sq.ft in 2024 reflects a 10% increase from the 2023 revision.

There are no figures available for the revisions in 2002, 2003, and 2012 for Padmanabha Street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft, with a median value of Rs 1,320 per sq.ft. Padmanabha Street's 2024 figure aligns with this median.

• Padmanabhan Nagar Sampanthanar Street: Rs 1,650 per sq.ft (2024)
• Padmanaban Nagar Jagirusan Street: Rs 1,650 per sq.ft (2024)
• Padmanaban Nagar Amman Koil Street: Rs 1,650 per sq.ft (2024)
• Palani Street: Rs 1,100 per sq.ft (2024)
• Palani Street Divyadas Nagar: Rs 1,100 per sq.ft (2024)
• Nethaji Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Padmanabha Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty, calculated at 7%, would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, the total cost for these fees would be Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmanabha Street?

Padmanabha Street falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Pozhichalur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it directly affects the financial obligations involved in the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Padmanabha Street?

The current guideline value of Padmanabha Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 400 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 230%.

What is the land classification for Padmanabha Street?

Padmanabha Street is classified as Residential Class I Type - II.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400.