Guideline Value for Padriya Garden Street

Padriya Garden Street guideline value

The current guideline value of Padriya Garden Street is Rs 4,400 per sq.ft. This street is located in Muthiyalpet village, under the Sowcarpet SRO, and is classified as Residential Class I Type - I.

How the guideline value of Padriya Garden Street has changed

The guideline value for Padriya Garden Street has undergone several revisions over the years. In 2003, the value was Rs 1,110 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007, marking an 8% rise. The value then saw a significant jump to Rs 4,000 per sq.ft in 2012, representing a 233% increase. However, it decreased to Rs 2,680 per sq.ft in 2017, which was a decline of 33%. In 2023, the value returned to Rs 4,000 per sq.ft, and the latest revision in 2024 set it at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

The guideline value register does not have a figure for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 296%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value, ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, which matches the current guideline value of Padriya Garden Street.

• Palaiyappan Street: Rs 4,400 per sq.ft (2024)
• Padavattamman Koil Street: Rs 5,500 per sq.ft (2024)
• Palliyappan Lane: Rs 4,400 per sq.ft (2024)
• Palliyappan Street: Rs 4,400 per sq.ft (2024)
• Pannaikaran Andiappan Street: Rs 3,800 per sq.ft (2024)
• Old Jail Road: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Padriya Garden Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Padriya Garden Street?

The Sub Registrar Office that covers Padriya Garden Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property transactions in Muthiyalpet. It serves as a benchmark that determines the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid discrepancies during the registration process.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Padriya Garden Street?

The current guideline value of Padriya Garden Street is Rs 4,400 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,110 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 296%.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, which is the same as the current value for Padriya Garden Street.

How is stamp duty calculated for properties in Padriya Garden Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000.

Where can I find the Sub Registrar Office for Padriya Garden Street?

The Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, covers Padriya Garden Street.