Guideline Value for PADASALAI STREET

Padasalai Street guideline value

The current guideline value of Padasalai Street in Pallikaranai village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - II.

How the guideline value of Padasalai Street has changed

The guideline value for Padasalai Street has undergone several revisions over the years. In 2002, the guideline value was Rs 67 per sq.ft, which increased to Rs 100 per sq.ft in 2003, marking a 49% rise. The value then saw a significant increase of 300% to reach Rs 400 per sq.ft in 2007. Following this, the value doubled to Rs 1,200 per sq.ft in 2012, reflecting a 200% increase. However, from 2012 to 2017, the value decreased by 33% to Rs 804 per sq.ft. The value further increased to Rs 1,200 per sq.ft in 2023, a 49% rise, before reaching the current value of Rs 1,320 per sq.ft in 2024, which is a 10% increase.

Throughout these revisions, there are no years where the register has no figure for Padasalai Street. Overall, from 2002 to 2024, the guideline value has increased by 1870%.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Padasalai Street's current value below that median.

• Paari Street Extension Shanthi Nagar: Rs 2,750 per sq.ft (2024)
• Pal Ambukkan Nagar: Rs 1,320 per sq.ft (2024)
• Palandiamman Street: Rs 1,320 per sq.ft (2024)
• Palandiyammn Koil Cross Street: Rs 1,320 per sq.ft (2024)
• Om Sakthi Nagar Extn.: Rs 2,200 per sq.ft (2024)
• Om Sakthi Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Padasalai Street

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 fees together to Rs 1,18,800. 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 detailed calculations.

Which Sub Registrar Office covers Padasalai Street?

Padasalai Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Pallikaranai. It is used to determine the stamp duty and registration fees that need to be paid during the property registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with the regulations set by the Registration Department.

When a property is bought or sold, the guideline value serves as a benchmark for calculating the applicable fees. It is essential for both parties to understand that the fees are based on the higher of the guideline value or the sale price, ensuring transparency in the transaction.

Frequently asked questions

What is the current guideline value of Padasalai Street?

The current guideline value of Padasalai Street 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 seen various changes, starting from Rs 67 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 1870%.

What is the land classification for Padasalai Street?

Padasalai Street is classified as Residential Class IV Type - II under the Chennai South Joint I SRO.

What are the stamp duty and registration fees for properties on Padasalai Street?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles registrations for Padasalai Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Padasalai Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.