Guideline Value for KEELPADAPPAI ROAD

Keelpadappai Road guideline value

The current guideline value of Keelpadappai Road is Rs 1,320 per sq.ft, effective from 1 July 2024. This road is located in Padappai village, under the Padappai Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Keelpadappai Road has changed

The guideline value for Keelpadappai Road has seen several revisions over the years. The 2017 revision set the value at Rs 804 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 has further increased this value to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Padappai

Padappai village has a total of 146 streets under the Padappai SRO with the 2024 guideline values ranging from Rs 440 to Rs 4,000 per sq.ft. The median guideline value in the village is Rs 830 per sq.ft, placing Keelpadappai Road's 2024 figure above this median.

• Kizhil Padappai (Periya Street): Rs 830 per sq.ft (2024)
• Kattu Colony: Rs 830 per sq.ft (2024)
• K.R.Puram: Rs 1,320 per sq.ft (2024)
• Kambar Street: Rs 830 per sq.ft (2024)
• Kambar Garden: Rs 1,100 per sq.ft (2024)
• Kamarajar Street: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Keelpadappai Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Keelpadappai Road?

The Sub Registrar Office that covers Keelpadappai Road is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Padappai. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Keelpadappai Road?

The current guideline value of Keelpadappai Road is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 804 per sq.ft in 2017 to Rs 1,320 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the stamp duty and registration fees for property in Keelpadappai Road?

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a property valued at Rs 13,20,000, the total fees would amount to Rs 1,18,800.

Which office handles property registrations in Padappai?

The Padappai Sub Registrar Office is responsible for handling property registrations in Padappai, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the median guideline value in Padappai village?

The median guideline value in Padappai village is Rs 830 per sq.ft, with Keelpadappai Road's current guideline value being above this median.