Guideline Value for A.P.PLOTS 8th STREET

A.P.PLOTS 8th STREET guideline value

The current guideline value of A.P.PLOTS 8th STREET in Padi village, under the Villivakkam SRO, is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of A.P.PLOTS 8th STREET has changed

The guideline value for A.P.PLOTS 8th 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 decreased to Rs 4,690 per sq.ft in 2017. The value then rose to Rs 7,000 per sq.ft in 2023, and currently stands at Rs 7,700 per sq.ft in the 2024 revision, reflecting a change of +10% from the previous year.

Notably, there are no figures available for the years 2002 and 2003 in the register for this street. 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 value for these streets is Rs 3,800 per sq.ft, placing A.P.PLOTS 8th STREET's 2024 figure above this median.

• A.P.PLOTS 7th STREET: Rs 7,700 per sq.ft (2024)
• A.P.PLOTS 9th STREET: Rs 7,700 per sq.ft (2024)
• A.P.PLOTS 6th STREET: Rs 7,700 per sq.ft (2024)
• A.P.PLOTS 5th STREET: Rs 7,700 per sq.ft (2024)
• A.P.PLOTS 4th STREET: Rs 7,700 per sq.ft (2024)
• A.P.PLOTS 3rD STREET: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in A.P.PLOTS 8th STREET

For a 1,000 sq.ft plot at the current rate of Rs 7,700 per sq.ft, the guideline value is Rs 77,00,000. The stamp duty at 7% amounts to Rs 5,39,000, and the registration fee at 2% is Rs 1,54,000, totaling 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers A.P.PLOTS 8th STREET?

The Sub Registrar Office that covers A.P.PLOTS 8th STREET is 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 details.

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

The guideline value is a crucial factor in the registration of property transactions in Padi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When you register a property, the guideline value is compared to the sale price, and the duty is charged on whichever amount is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of A.P.PLOTS 8th STREET?

The current guideline value of A.P.PLOTS 8th 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 a significant increase over the years.

What is the classification of land for A.P.PLOTS 8th STREET?

A.P.PLOTS 8th STREET is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for A.P.PLOTS 8th STREET?

The Sub Registrar Office for A.P.PLOTS 8th STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Padi?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 at a rate of 7%.