Guideline Value for Pathmavathi Street 3rd Street

Pathmavathi Street 3rd Street guideline value

The current guideline value for Pathmavathi Street 3rd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. 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 3rd Street has changed

The guideline value for Pathmavathi Street 3rd Street has seen several revisions over the years. The earliest recorded figure is from the 2017 revision, which set the value at Rs 2,345 per sq.ft. This figure increased significantly to Rs 3,500 per sq.ft in the 2023 revision, reflecting a change of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has risen by 64%. It is important to note that the register has no figures for the years 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 as of 2024. The median guideline value for these streets is Rs 2,750 per sq.ft, placing Pathmavathi Street 3rd Street's 2024 figure above this median.

• Pathmavathi Street 2nd Street: Rs 3,850 per sq.ft (2024)
• Pathmavathi Street 4th Street: Rs 3,850 per sq.ft (2024)
• Pathmavathi Street 1st Street: Rs 3,850 per sq.ft (2024)
• Pathmavathi Street 5th Street: Rs 3,850 per sq.ft (2024)
• Pathmavathi 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost to 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Pathmavathi Street 3rd Street?

The Sub Registrar Office that covers Pathmavathi Street 3rd 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 information.

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

The guideline value is a crucial factor in property transactions in Madipakkam-1, as it determines the stamp duty and registration fees applicable during the buying or selling process. Buyers must ensure that the guideline value is considered alongside the sale price to comply with legal requirements.

When registering a property, the guideline value is used to calculate the necessary fees, ensuring that both parties are aware of their financial obligations. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Pathmavathi Street 3rd Street?

The current guideline value of Pathmavathi Street 3rd Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, reflecting a total increase of 64% over these years.

What is the land classification of Pathmavathi Street 3rd Street?

Pathmavathi Street 3rd Street is classified as Residential Class I Type - I.

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

The Sub Registrar Office for Pathmavathi Street 3rd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Madipakkam-1?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at 7%.