Guideline Value for Kizhil Padappai (Periya Street)

Kizhil Padappai (Periya Street) guideline value

The current guideline value of Kizhil Padappai (Periya Street) is Rs 830 per sq.ft, effective from 1 July 2024. This street is located in Padappai village, under the Padappai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kizhil Padappai (Periya Street) has changed

The guideline value for Kizhil Padappai (Periya Street) has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 50 per sq.ft. This value increased significantly to Rs 750 per sq.ft in 2012, representing a remarkable increase of 1400%. However, by 2017, the guideline value decreased to Rs 502 per sq.ft, marking a decline of 33%. The value then rose to Rs 750 per sq.ft in 2023, and subsequently increased to Rs 830 per sq.ft in 2024, reflecting an increase of 11%.

It is important to note that there are no recorded figures for Kizhil Padappai (Periya Street) in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 1560%.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 830 per sq.ft, which is the same as the current value for Kizhil Padappai (Periya Street).

• Keelpadappai Road: Rs 1,320 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)
• Lakshmi Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Kizhil Padappai (Periya Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 830 per sq.ft, the total guideline value would be Rs 8,30,000. The stamp duty at 7% would be Rs 58,100, and the registration fee at 2% would be Rs 16,600, bringing the total to Rs 74,700. It is important to note that stamp duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kizhil Padappai (Periya Street)?

The Sub Registrar Office that covers Kizhil Padappai (Periya Street) 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 plays a crucial role during the registration of property transactions in Padappai. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The authorities rely on these values to ensure that the transaction is recorded accurately and fairly.

When you are buying or selling property, the guideline value helps in assessing the official value of the property. This value is essential for legal documentation and helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Kizhil Padappai (Periya Street)?

The current guideline value of Kizhil Padappai (Periya Street) is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 50 per sq.ft in 2007 to Rs 830 per sq.ft in 2024, representing an overall increase of 1560%.

What are the stamp duty and registration fees for property in Kizhil Padappai (Periya Street)?

For a property valued at Rs 8,30,000, the stamp duty would be Rs 58,100 and the registration fee would be Rs 16,600, totaling Rs 74,700.

Which Sub Registrar Office is responsible for Kizhil Padappai (Periya Street)?

The Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone, is responsible for Kizhil Padappai (Periya Street).

What is the land classification of Kizhil Padappai (Periya Street)?

Kizhil Padappai (Periya Street) is classified as Residential Class III Type - I.