Guideline Value for Padmavathy Street

Padmavathy Street guideline value

The current guideline value of Padmavathy Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Padmavathy Street has changed

In the 2012 revision, the guideline value was Rs 2,000 per sq.ft. This remained unchanged until the 2023 revision, where it stayed at Rs 2,000 per sq.ft. The 2024 revision saw an increase of 10%, bringing the value to Rs 2,200 per sq.ft.

There are no figures available for the years 2002, 2003, 2007, and 2017 in the register for Padmavathy Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, making Padmavathy Street's 2024 figure below that median.

• Padmavathi Street (Krishanmoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Palani Street: Rs 2,200 per sq.ft (2024)
• Palpannai Salai: Rs 3,301 per sq.ft (2024)
• Om Sakthi Vinayagar Koil Street: Rs 2,700 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 Padmavathy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathy Street?

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

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

The guideline value is a crucial factor when registering property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring that transactions are conducted transparently.

When a property is registered, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Padmavathy Street?

The current guideline value of Padmavathy Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase over this period.

What are the other streets in Kodungaiyur and their guideline values?

Other streets in Kodungaiyur include Padmavathi Street (Krishanmoorthy Nagar) at Rs 2,700 per sq.ft, Palani Street at Rs 2,200 per sq.ft, and Palpannai Salai at Rs 3,301 per sq.ft, among others.

Where is the Madhavaram Sub Registrar Office located?

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

How are stamp duty and registration fees calculated for properties?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000.