Guideline Value for PADA SALAI ROAD

Pada Salai Road guideline value

The current guideline value of Pada Salai Road, located in Matthur village under the Thiruvottiyur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Pada Salai Road has changed

The guideline value for Pada Salai Road has seen several revisions over the years. In 2002, the value was Rs 43 per sq.ft, which increased to Rs 52 per sq.ft in 2003, marking a rise of 21%. By 2007, the value surged to Rs 100 per sq.ft, reflecting a significant increase of 92%. The 2012 revision saw the value rise to Rs 1,000 per sq.ft, an impressive jump of 900%. However, this was followed by a decrease to Rs 670 per sq.ft in 2017, a decline of 33%. The value then increased to Rs 1,000 per sq.ft in 2023, and most recently, it has risen to Rs 1,100 per sq.ft in 2024, a change of 10%.

Overall, from 2002 to 2024, the guideline value has increased by 2,458%. There are no figures available for the revisions in years other than those specified.

Guideline values in Matthur

In Matthur village, there are 66 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value is Rs 1,100 per sq.ft, which is the same as the guideline value for Pada Salai Road.

• Om Sakthi Kaligambal Co-Operative Nagar Annexe: Rs 2,200 per sq.ft (2024)
• Om Sakthi Kaligambal Co-Operative Nagar: Rs 2,200 per sq.ft (2024)
• Omakula Street: Rs 1,100 per sq.ft (2024)
• Pangu Medu: Rs 1,100 per sq.ft (2024)
• New Bhuvaneswari Nagar: Rs 1,100 per sq.ft (2024)
• Nethaji Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Pada Salai Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pada Salai Road?

The Sub Registrar Office that covers Pada Salai Road is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Matthur. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential for buyers and sellers to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Pada Salai Road?

The current guideline value of Pada Salai Road is Rs 1,100 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 43 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 2,458% over the years.

What is the land classification for Pada Salai Road?

Pada Salai Road is classified as Residential Special Type - III, indicating its suitability for residential development.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.