Guideline Value for Pathmavathi Street

Pathmavathi Street guideline value

The current guideline value of Pathmavathi 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, and is classified as Residential Class I Type - I.

How the guideline value of Pathmavathi Street has changed

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

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for Pathmavathi Street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with the 2024 guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for this area is Rs 2,750 per sq.ft, placing Pathmavathi Street's 2024 figure above this median.

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

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, 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 and the sale price.

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

Which Sub Registrar Office covers Pathmavathi Street?

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

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

The guideline value is an essential factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value.

When a property is sold, the buyer and seller must consider the guideline value to ensure compliance with local regulations. This value helps to maintain transparency and fairness in property transactions within the area.

Frequently asked questions

What is the current guideline value of Pathmavathi Street?

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

How much has the guideline value changed over the years?

The guideline value has changed from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What are the other streets with the same guideline value?

Other streets in Madipakkam-1, such as Pathmavathi Street 1st Street, 2nd Street, 3rd Street, 4th Street, 5th Street, and 6th Street, all have the same guideline value of Rs 3,850 per sq.ft for 2024.

What are the stamp duty and registration fees for properties 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.

Where can I find the Sub Registrar Office for Pathmavathi Street?

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