Guideline Value for SRI PADMALADHA AVENUE

Sri Padmaladha Avenue guideline value

The current guideline value of Sri Padmaladha Avenue is Rs 650 per sq.ft, effective from 1 July 2024. This street is located in Mamandoor village, under the Chengleput Joint II SRO, and is classified as Residential Class V Type - I.

How the guideline value of Sri Padmaladha Avenue has changed

Over the years, the guideline value for Sri Padmaladha Avenue has seen several revisions. The most recent revision in 2024 maintains the guideline value at Rs 650 per sq.ft, consistent with the previous revision in 2023. Prior to this, in 2017, the value was Rs 435 per sq.ft, marking a significant increase of 49% from 2017 to 2023. In 2012, the guideline value was also Rs 650 per sq.ft, indicating a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 650 per sq.ft.

For the years 2002, 2003, and 2007, the register has no figure for Sri Padmaladha Avenue. This indicates that there were no recorded guideline values for these years.

Guideline values in Mamandoor

In Mamandoor, there are 41 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 1,200 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value for Sri Padmaladha Avenue is above this median.

• Sri Sai Sreevari Nagar: Rs 500 per sq.ft (2024)
• Sri Vathsa Nagar Phase2: Rs 500 per sq.ft (2024)
• Sri Vathsa Nagar Phasei: Rs 500 per sq.ft (2024)
• S.P.Avenue: Rs 300 per sq.ft (2024)
• Senthil Nagar: Rs 500 per sq.ft (2024)
• Thirumalai Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Padmaladha Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 650 per sq.ft, the total guideline value amounts to Rs 6,50,000. The stamp duty at 7% would be Rs 45,500, and the registration fee at 2% would be Rs 13,000, making the total cost for these charges Rs 58,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Padmaladha Avenue?

The Sub Registrar Office that covers Sri Padmaladha Avenue is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mamandoor

The guideline value plays a crucial role in the registration process of property transactions in Mamandoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to assess the applicable stamp duty, which is calculated based on the higher of the guideline value or the sale price. This ensures that both buyers and sellers are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of Sri Padmaladha Avenue?

The current guideline value of Sri Padmaladha Avenue is Rs 650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 650 per sq.ft from 2012 to 2024, with a notable increase of 49% from Rs 435 per sq.ft in 2017 to Rs 650 per sq.ft in 2023.

What are the other streets in Mamandoor with their guideline values?

Other streets in Mamandoor include Sri Sai Sreevari Nagar, Sri Vathsa Nagar Phase2, Sri Vathsa Nagar Phasei, S.P.Avenue, Senthil Nagar, and Thirumalai Nagar, with guideline values ranging from Rs 300 to Rs 500 per sq.ft in 2024.

What fees are associated with buying property in Sri Padmaladha Avenue?

When buying property in Sri Padmaladha Avenue, the stamp duty is charged at 7% of the guideline value, while the registration fee is charged at 2%. These fees are based on the higher of the guideline value and the sale price.

Which office handles property registrations for Sri Padmaladha Avenue?

The Chengleput Joint II Sub Registrar Office handles property registrations for Sri Padmaladha Avenue. It is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.