Guideline Value for Pathmavathi Street 4th Street

Pathmavathi Street 4th Street guideline value

The current guideline value of Pathmavathi Street 4th 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 4th Street has changed

The guideline value for Pathmavathi Street 4th Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, which reflects a 10% increase from the 2023 revision of Rs 3,500 per sq.ft. Prior to 2023, the register has no figures for the years 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024. The absence of figures for earlier years indicates a lack of recorded guideline values for this street during those periods.

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 is Rs 2,750 per sq.ft, positioning Pathmavathi Street 4th Street above this median.

• Pathmavathi Street 3rd Street: Rs 3,850 per sq.ft (2024)
• Pathmavathi Street 5th Street: Rs 3,850 per sq.ft (2024)
• Pathmavathi Street 2nd Street: Rs 3,850 per sq.ft (2024)
• Pathmavathi Street 6th Street: Rs 3,850 per sq.ft (2024)
• Pathmavathi Street 1st Street: Rs 3,850 per sq.ft (2024)
• Pathmavathi Street 7th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Pathmavathi Street 4th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the 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, totaling Rs 3,46,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pathmavathi Street 4th Street?

The Sub Registrar Office that covers Pathmavathi Street 4th 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 is a critical factor during the registration of property transactions in Madipakkam-1. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, both parties must consider the guideline value to ensure compliance with legal requirements. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Pathmavathi Street 4th Street?

The current guideline value of Pathmavathi Street 4th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much did the guideline value change from 2023 to 2024?

The guideline value increased by 10% from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024.

What is the land classification for Pathmavathi Street 4th Street?

Pathmavathi Street 4th Street is classified as Residential Class I Type - I.

Where can I find the registration office for this area?

The registration office for Pathmavathi Street 4th 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 property transactions?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.