Guideline Value for NOOKAMPALAYAM PADASALAI STREET

Nookampalayam Padasalai Street guideline value

The current guideline value of Nookampalayam Padasalai Street is Rs 2,725 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village under the Selaiyur Sub Registrar Office (SRO) and is classified as Residential Special Type - I.

How the guideline value of Nookampalayam Padasalai Street has changed

The guideline value for Nookampalayam Padasalai Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,675 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 2,500 per sq.ft in the 2023 revision, followed by the latest 2024 revision where it rose to Rs 2,725 per sq.ft, reflecting an increase of 9% from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the current 2024 revision, there has been a net increase of 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value is Rs 2,725 per sq.ft, which is the same as the current value for Nookampalayam Padasalai Street.

• Nookampalayam Padasalai Cross Street: Rs 2,725 per sq.ft (2024)
• Nookampalayam Periya Palayathamman Koil Street: Rs 2,725 per sq.ft (2024)
• Nookampalayam Main Road: Rs 2,725 per sq.ft (2024)
• Nookampalayam Pillaiyar Koil Street: Rs 2,725 per sq.ft (2024)
• Nookampalayam Subash Chandra Bose Street: Rs 2,725 per sq.ft (2024)
• Nookampalayam Kattabomman Street: Rs 2,725 per sq.ft (2024)

Stamp duty and registration fee for property in Nookampalayam Padasalai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,725 per sq.ft, the total guideline value would be Rs 27,25,000. The stamp duty at 7% would amount to Rs 1,90,750, and the registration fee at 2% would be Rs 54,500, bringing the total fees together to Rs 2,45,250. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Nookampalayam Padasalai Street?

The Nookampalayam Padasalai Street falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perumbakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value as per government standards.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nookampalayam Padasalai Street?

The current guideline value of Nookampalayam Padasalai Street is Rs 2,725 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,725 per sq.ft in 2024.

What is the land classification for Nookampalayam Padasalai Street?

Nookampalayam Padasalai Street is classified as Residential Special Type - I.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 27,25,000, the stamp duty would be Rs 1,90,750 and the registration fee would be Rs 54,500, totaling Rs 2,45,250.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.