Guideline Value for Padmanban Street

Padmanban Street guideline value

The current guideline value of Padmanban Street is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village and falls under the Pallavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Padmanban Street has changed

Over the years, the guideline value of Padmanban Street has seen significant changes. In the 2007 revision, the value was Rs 400 per sq.ft. This increased dramatically to Rs 2,700 per sq.ft in 2012, marking a rise of 575%. However, from 2012 to 2017, the value decreased to Rs 1,809 per sq.ft, a decline of 33%. The value then rose again to Rs 2,700 per sq.ft in 2023, a 49% increase, before reaching the current value of Rs 2,970 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that there are no figures available for Padmanban Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 643%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value is Rs 2,970 per sq.ft, which is the same as the guideline value for Padmanban Street.

• Padmanabha Nagar Nalvar Street: Rs 4,400 per sq.ft (2024)
• Padmanabha 1 To 3 Streets: Rs 4,400 per sq.ft (2024)
• Padmanaba Nagar: Rs 4,400 per sq.ft (2024)
• Pachaiyappan Nagar: Rs 1,650 per sq.ft (2024)
• N.S.R.Road: Rs 2,970 per sq.ft (2024)
• North Mosque Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Padmanban Street

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, totaling Rs 2,67,300. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padmanban Street?

The Sub Registrar Office that covers Padmanban Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is crucial when buying or selling property as it determines the minimum value at which a property can be registered. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the guideline value is used to assess the applicable taxes and fees. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Padmanban Street?

The current guideline value of Padmanban Street is Rs 2,970 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 2,970 per sq.ft in 2024, marking an overall increase of 643%.

What is the land classification for Padmanban Street?

Padmanban Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

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

The Sub Registrar Office for Padmanban Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Padmanban Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees would be Rs 2,67,300 based on the current guideline value.