Guideline Value for Pathmavathi Street 5th Street

Pathmavathi Street 5th Street guideline value

The current guideline value of Pathmavathi Street 5th Street is Rs 3,850 per sq.ft. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Pathmavathi Street 5th Street has changed

The guideline value for Pathmavathi Street 5th Street has seen changes over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 3,500 per sq.ft, and in the 2024 revision, it increased to Rs 3,850 per sq.ft, reflecting a change of +10%.

With the 2024 revision, the current guideline value is Rs 3,850 per sq.ft. This increase from the previous year's figure indicates a notable adjustment in the valuation of properties in this area.

Guideline values in Madipakkam-1

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

• Pathmavathi Street 4th Street: Rs 3,850 per sq.ft (2024)
• Pathmavathi Street 6th Street: Rs 3,850 per sq.ft (2024)
• Pathmavathi Street 3rd Street: Rs 3,850 per sq.ft (2024)
• Pathmavathi Street 7th Street: Rs 3,850 per sq.ft (2024)
• Pathmavathi Street 2nd Street: Rs 3,850 per sq.ft (2024)
• Pathmavathi Street 1st Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Pathmavathi Street 5th 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 be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees 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 5th Street?

The Sub Registrar Office that covers Pathmavathi Street 5th 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 serves as a benchmark for property transactions in Madipakkam-1. When buying or selling a property, the guideline value is used to determine the applicable stamp duty and registration fees, which are mandatory for the registration process.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during property transactions. This value helps in establishing a fair basis for the registration of properties in the area.

Frequently asked questions

What is the current guideline value of Pathmavathi Street 5th Street?

The current guideline value of Pathmavathi Street 5th 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 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking an increase of +10%. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Pathmavathi Street 5th Street?

Pathmavathi Street 5th Street falls under the Residential Class I Type - I land classification.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value or sale price.

Where is the Sub Registrar Office for Pathmavathi Street 5th Street located?

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