Guideline Value for Pathmavathi Street 7th Street

Pathmavathi Street 7th Street guideline value

The current guideline value of Pathmavathi Street 7th Street is Rs 3,850 per sq.ft. This street is located in Madipakkam-1 village, under the Velacheri SRO, and is classified as Residential Class I Type - I.

How the guideline value of Pathmavathi Street 7th Street has changed

The guideline value for Pathmavathi Street 7th Street has undergone several revisions. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the value at Rs 3,500 per sq.ft, which was then increased to Rs 3,850 per sq.ft in the 2024 revision, marking a change of +10%.

As per the latest revision effective from 1 July 2024, the guideline value stands at Rs 3,850 per sq.ft. This reflects a significant increase compared to the previous year's value of Rs 3,500 per sq.ft.

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 in this area is Rs 2,750 per sq.ft, placing Pathmavathi Street 7th Street's 2024 figure above this median.

• Pathmavathi Street 6th Street: Rs 3,850 per sq.ft (2024)
• Pathmavathi Street 5th Street: Rs 3,850 per sq.ft (2024)
• Pathmavathi Street 4th Street: Rs 3,850 per sq.ft (2024)
• Pathmavathi Street 3rd 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 7th 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 charges to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details on the fees applicable to your property transaction.

Which Sub Registrar Office covers Pathmavathi Street 7th Street?

The Sub Registrar Office that covers Pathmavathi Street 7th 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 plays a crucial role during the registration of property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. Buyers and sellers must 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 7th Street?

The current guideline value of Pathmavathi Street 7th 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 changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, reflecting a +10% increase. The register has no figures for this street for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft. Pathmavathi Street 7th Street's current value is above this median.

What are the stamp duty and registration fees for a property in this area?

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. Duty is charged on the higher of the guideline value or the sale price.

Which office handles the registration for Pathmavathi Street 7th Street?

The Velacheri Sub Registrar Office handles the registration for Pathmavathi Street 7th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.