Guideline Value for Padmavathi Street (Krishanmoorthy Nagar)

Padmavathi Street (Krishanmoorthy Nagar) guideline value

The current guideline value of Padmavathi Street (Krishanmoorthy Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Padmavathi Street (Krishanmoorthy Nagar) has changed

As per the guideline value register, the first recorded figure for Padmavathi Street is from the 2012 revision, which was Rs 2,500 per sq.ft. This figure remained unchanged through the 2023 revision. In the 2024 revision, the guideline value increased to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has risen by 8%. It is important to note that there are no recorded figures for this street in the revisions of 2002, 2003, 2007, and 2017.

Guideline values in Kodungaiyur

Kodungaiyur village has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which is equal to the current value of Padmavathi Street (Krishanmoorthy Nagar).

• Padmavathy Street: Rs 2,200 per sq.ft (2024)
• Palani Street: Rs 2,200 per sq.ft (2024)
• Om Sakthi Vinayagar Koil Street: Rs 2,700 per sq.ft (2024)
• Palpannai Salai: Rs 3,301 per sq.ft (2024)
• N.V. Natrajan Street: Rs 2,200 per sq.ft (2024)
• N.S.K. Street (Senthil Nagar): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathi Street (Krishanmoorthy Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more information on fees.

Which Sub Registrar Office covers Padmavathi Street (Krishanmoorthy Nagar)?

The Sub Registrar Office that covers Padmavathi Street (Krishanmoorthy Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory charges that need to be settled at the time of registration. This ensures that both buyers and sellers are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of Padmavathi Street (Krishanmoorthy Nagar)?

The current guideline value of Padmavathi Street (Krishanmoorthy Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 2,500 per sq.ft in 2023, and then increased to Rs 2,700 per sq.ft in 2024, marking an 8% increase from the previous year.

What is the land classification of Padmavathi Street (Krishanmoorthy Nagar)?

Padmavathi Street (Krishanmoorthy Nagar) is classified as Residential Class I Type - I.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Padmavathi Street (Krishanmoorthy Nagar)?

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 27,00,000, the stamp duty would be Rs 1,89,000.