Guideline Value

Corporate

Guideline Value for CLASSIC APARTMENTS (Estate Road)

₹9900/sq.ft.

The guideline value for Classic Apartments (estate Road) in Padi village (Villivakkam SRO, Chennai zone) is Rs 9900 per sq.ft, effective 1 July 2024. It was Rs 9000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Padi

Village

Villivakkam

SRO

Residential Special Type - II
History
Period Guideline Value
From 1-7-2024 ₹9900 /sq.ft.
From 1-4-2023 ₹9000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹6030 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹9000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 ( Near By Nolambur Eb Office )
044-29561092
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Classic Apartments (estate Road)

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CLASSIC APARTMENTS (Estate Road) guideline value

The current guideline value for CLASSIC APARTMENTS (Estate Road) is Rs 9,900 per sq.ft, effective from 1 July 2024. This property is located in Padi village, under the Villivakkam SRO, and is classified as Residential Special Type - II.

How the guideline value of CLASSIC APARTMENTS (Estate Road) has changed

The guideline value for CLASSIC APARTMENTS (Estate Road) has seen several revisions over the years. In 2012, the value was Rs 9,000 per sq.ft, which decreased to Rs 6,030 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 9,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the value at Rs 9,900 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 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. The median guideline value in this area is Rs 3,800 per sq.ft, and CLASSIC APARTMENTS (Estate Road) is positioned above this median.

Stamp duty and registration fee for property in CLASSIC APARTMENTS (Estate Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, while the registration fee at 2% would be Rs 1,98,000. The total cost for stamp duty and registration would be Rs 8,91,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers CLASSIC APARTMENTS (Estate Road)?

The Sub Registrar Office that covers CLASSIC APARTMENTS (Estate Road) 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 information.

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 calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in accordance with government regulations.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable stamp duty. This ensures that the revenue generated from property transactions is fair and consistent across the region.

Frequently asked questions

What is the current guideline value for CLASSIC APARTMENTS (Estate Road)?

The current guideline value for CLASSIC APARTMENTS (Estate Road) is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 9,000 per sq.ft in 2012 to Rs 6,030 per sq.ft in 2017, then increased to Rs 9,000 per sq.ft in 2023, and finally to Rs 9,900 per sq.ft in 2024.

What is the land classification for CLASSIC APARTMENTS (Estate Road)?

CLASSIC APARTMENTS (Estate Road) is classified as Residential Special Type - II, which indicates its suitability for residential purposes within the area.

Where can I find the registration office for CLASSIC APARTMENTS (Estate Road)?

The registration office for CLASSIC APARTMENTS (Estate Road) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the significance of the guideline value in property transactions?

The guideline value is essential for determining the stamp duty and registration fees during property transactions. It ensures that the transaction is recorded accurately and fairly according to government regulations.