Guideline Value for ANNAI FLATS (Padi Kuppam Road)

ANNAI FLATS (Padi Kuppam Road) guideline value

The current guideline value for ANNAI FLATS (Padi Kuppam Road) is Rs 6,600 per sq.ft, effective from 1 July 2024. This property is located in Padi village, under the Villivakkam SRO, and is classified as Residential Class II Type - III.

How the guideline value of ANNAI FLATS (Padi Kuppam Road) has changed

The guideline value for ANNAI FLATS has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 6,600 per sq.ft, an increase of 10% from the 2023 revision of Rs 6,000 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 4,020 per sq.ft, marking a significant increase of 49% from that year to 2023. The 2012 revision also listed the value at Rs 6,000 per sq.ft, which was a decrease of 33% from the 2017 figure.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Padi

In Padi, there are 354 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 13,200 per sq.ft, with a median value of Rs 3,800 per sq.ft. The guideline value for ANNAI FLATS is above this median, indicating its relative standing within the area.

• Amman Koil Street: Rs 2,800 per sq.ft (2024)
• ANNA STREET (Back of Britannia): Rs 3,400 per sq.ft (2024)
• ANNA STREET (Padi Kuppam): Rs 2,200 per sq.ft (2024)
• Appadurai Chetty Street: Rs 2,500 per sq.ft (2024)
• APPAR STREET (Britannia back side): Rs 2,800 per sq.ft (2024)
• A.P.PLOTS 10th STREET: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in ANNAI FLATS (Padi Kuppam Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000. Together, the total cost for these fees would be Rs 5,94,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers ANNAI FLATS (Padi Kuppam Road)?

The Sub Registrar Office that covers ANNAI FLATS is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Padi. It serves as a benchmark for determining the stamp duty and registration fees payable, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the guideline value is compared to the actual sale price, and the higher amount is used to calculate the applicable duties and fees. This helps in standardizing property transactions and minimizing disputes related to valuation.

Frequently asked questions

What is the current guideline value for ANNAI FLATS?

The current guideline value for ANNAI FLATS (Padi Kuppam Road) is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 4,020 per sq.ft in 2017 to Rs 6,600 per sq.ft in 2024, with several revisions in between. The most recent increase was a 10% rise from Rs 6,000 per sq.ft in 2023.

What are the other guideline values in Padi?

In Padi, the guideline values range from Rs 2,200 to Rs 13,200 per sq.ft. The median value is Rs 3,800 per sq.ft, with ANNAI FLATS being above this median.

What are the stamp duty and registration fees for ANNAI FLATS?

For a 1,000 sq.ft plot at the guideline value of Rs 6,600 per sq.ft, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which office handles the registration for ANNAI FLATS?

The Villivakkam Sub Registrar Office handles the registration for ANNAI FLATS, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.