Guideline Value for Pathmavathi Street 2nd Street

Pathmavathi Street 2nd Street guideline value

The current guideline value of Pathmavathi Street 2nd Street is Rs 3,850 per sq.ft. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - I.

How the guideline value of Pathmavathi Street 2nd Street has changed

The guideline value for Pathmavathi Street 2nd Street has seen several revisions over the years. The 2017 revision set the value at Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in the 2023 revision. The most recent revision in 2024 has raised the guideline value to Rs 3,850 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 64%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, indicating that the 2024 guideline value of Pathmavathi Street 2nd Street is above this median.

• Pathmavathi Street 1st Street: Rs 3,850 per sq.ft (2024)
• Pathmavathi Street 3rd Street: Rs 3,850 per sq.ft (2024)
• Pathmavathi Street: Rs 3,850 per sq.ft (2024)
• Pathmavathi Street 4th Street: Rs 3,850 per sq.ft (2024)
• Pathmavathi Street 5th Street: Rs 3,850 per sq.ft (2024)
• Pathmavathi Street 6th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Pathmavathi Street 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost for these fees Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pathmavathi Street 2nd Street?

The Sub Registrar Office that covers Pathmavathi Street 2nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role in the registration process when buying or selling property in Madipakkam-1. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is assessed to ensure that the transaction is recorded accurately. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Pathmavathi Street 2nd Street?

The current guideline value of Pathmavathi Street 2nd Street is Rs 3,850 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,345 per sq.ft in 2017 to Rs 3,500 per sq.ft in 2023, and then to Rs 3,850 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification for Pathmavathi Street 2nd Street?

Pathmavathi Street 2nd Street is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles registrations for properties in the area.