Guideline Value for Padmavathi Salai @ Jaipur Colony

Padmavathi Salai @ Jaipur Colony guideline value

The current guideline value of Padmavathi Salai @ Jaipur Colony is Rs 15,400 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Commercial Special Type - II.

How the guideline value of Padmavathi Salai @ Jaipur Colony has changed

In the 2023 revision, the guideline value was Rs 14,000 per sq.ft. This represents a 10% increase to the current figure of Rs 15,400 per sq.ft in the 2024 revision. The register has no figures for the revisions in 2017, 2012, 2007, 2003, and 2002 for this street.

Thus, the only recorded revisions are from 2023 to 2024, showing an increase from Rs 14,000 to Rs 15,400 per sq.ft. The absence of figures for earlier years indicates that the guideline value for Padmavathi Salai @ Jaipur Colony has been established only in recent revisions.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Padmavathi Salai @ Jaipur Colony's 2024 figure above the median.

• Pachiappan Naicken street: Rs 8,700 per sq.ft (2024)
• Olitta Rajani Road: Rs 8,700 per sq.ft (2024)
• Parasuram Nagar (North South): Rs 8,700 per sq.ft (2024)
• Parthasarathy Avenue: Rs 8,700 per sq.ft (2024)
• Parthasarathy Garden: Rs 10,900 per sq.ft (2024)
• Parthasarathy Garden @ Parthasarathy Avenue: Rs 17,500 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathi Salai @ Jaipur Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 15,400 per sq.ft, the total guideline value would be Rs 1,54,00,000. The stamp duty at 7% would amount to Rs 10,78,000, and the registration fee at 2% would be Rs 3,08,000, making the total cost for these fees Rs 13,86,000. 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 Padmavathi Salai @ Jaipur Colony?

The Sub Registrar Office covering Padmavathi Salai @ Jaipur Colony is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is an important factor during the registration of property transactions in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees that are payable when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a value that reflects the current market conditions as determined by the registration department. This helps in maintaining transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Padmavathi Salai @ Jaipur Colony?

The current guideline value of Padmavathi Salai @ Jaipur Colony is Rs 15,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 14,000 per sq.ft in 2023 to Rs 15,400 per sq.ft in 2024, marking a 10% rise.

What is the land classification for Padmavathi Salai @ Jaipur Colony?

The land classification for Padmavathi Salai @ Jaipur Colony is Commercial Special Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Padmavathi Salai @ Jaipur Colony is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What are the stamp duty and registration fees based on the guideline value?

For a property valued at Rs 1,54,00,000, the stamp duty would be Rs 10,78,000 and the registration fee would be Rs 3,08,000, totaling Rs 13,86,000.