Guideline Value for A.P.PLOTS 2nd STREET

A.P.PLOTS 2nd STREET guideline value

The current guideline value of A.P.PLOTS 2nd STREET in Padi village, under the Villivakkam SRO, is Rs 7,700 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class II Type - I land classification.

How the guideline value of A.P.PLOTS 2nd STREET has changed

The guideline value for A.P.PLOTS 2nd STREET has undergone several revisions over the years. In 2007, the value was Rs 1,650 per sq.ft, which increased significantly to Rs 7,000 per sq.ft in 2012. However, it saw a decrease of 33% to Rs 4,690 per sq.ft in 2017. The value then rose sharply to Rs 7,000 per sq.ft in 2023, before reaching the current guideline value of Rs 7,700 per sq.ft in 2024, marking a 10% increase.

There are no figures available for the revisions in 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 367%.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 3,800 per sq.ft, making the current value of A.P.PLOTS 2nd STREET above the median.

• A.P.PLOTS 1st STREET: Rs 7,700 per sq.ft (2024)
• A.P.PLOTS 3rD STREET: Rs 7,700 per sq.ft (2024)
• A.P.PLOTS 12th STREET: Rs 7,700 per sq.ft (2024)
• A.P.PLOTS 4th STREET: Rs 7,700 per sq.ft (2024)
• A.P.PLOTS 11th STREET: Rs 7,700 per sq.ft (2024)
• A.P.PLOTS 5th STREET: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in A.P.PLOTS 2nd STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, leading to a total of Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers A.P.PLOTS 2nd STREET?

The A.P.PLOTS 2nd STREET falls under the jurisdiction of the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Padi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling a property, the guideline value ensures that the transaction is recorded accurately and transparently, reflecting the value of the property as per the government’s assessment.

Frequently asked questions

What is the current guideline value of A.P.PLOTS 2nd STREET?

The current guideline value of A.P.PLOTS 2nd STREET is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,650 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 367% over the years.

What is the land classification for A.P.PLOTS 2nd STREET?

A.P.PLOTS 2nd STREET is classified as Residential Class II Type - I.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How do I calculate stamp duty for a property in Padi?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for accurate calculations.