Guideline Value for FIVE STAR APPARTMENTS (PADIKUPPAM ROAD)

Five Star Appartments (Padikuppam Road) guideline value

The current guideline value of Five Star Appartments (Padikuppam 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 falls under the Residential Class II Type - III land classification.

How the guideline value of Five Star Appartments (Padikuppam Road) has changed

The guideline value has undergone several revisions over the years. Starting from the 2012 revision, the value was Rs 6,000 per sq.ft. This figure decreased to Rs 4,020 per sq.ft in 2017. Following this, the 2023 revision saw an increase to Rs 6,000 per sq.ft, and the most recent 2024 revision set the current value at Rs 6,600 per sq.ft. Notably, the revisions for 2002, 2003, and 2007 do not have any figures recorded for this street.

Examining the changes, the guideline value increased by 10% from 2023 to 2024. From 2017 to 2023, there was a significant increase of 49%. However, the value saw a decrease of 33% from 2012 to 2017. 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 with a 2024 guideline value 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, and the guideline value for Five Star Appartments is above this median.

• Gandhi Nagar: Rs 5,400 per sq.ft (2024)
• Emerald Flats (Estate Road, Mogappair Road): Rs 9,900 per sq.ft (2024)
• Elumalai Nagar: Rs 2,500 per sq.ft (2024)
• Gandhi Street: Rs 5,400 per sq.ft (2024)
• ELANGO NAGAR MAIN ROAD (Moorthy Nagar Main Road): Rs 4,400 per sq.ft (2024)
• Elango Nagar 4th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Five Star Appartments (Padikuppam Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, resulting in a total of Rs 5,94,000. 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 Five Star Appartments (Padikuppam Road)?

The Sub Registrar Office that covers Five Star Appartments (Padikuppam Road) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the 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 in the registration process when buying or selling property in Padi. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When a property is registered, the higher value between the guideline value and the actual sale price is taken into account for duty calculations. This process helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Five Star Appartments (Padikuppam Road)?

The current guideline value of Five Star Appartments (Padikuppam 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 changed from Rs 6,000 per sq.ft in 2012 to Rs 4,020 per sq.ft in 2017, then back to Rs 6,000 per sq.ft in 2023, and finally to Rs 6,600 per sq.ft in 2024.

What is the land classification for Five Star Appartments (Padikuppam Road)?

Five Star Appartments (Padikuppam Road) falls under the Residential Class II Type - III land classification.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 66,00,000, 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 Sub Registrar Office covers this property?

The Villivakkam Sub Registrar Office covers Five Star Appartments (Padikuppam Road), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.