Guideline Value for PADASALAI STREET

Padasalai Street guideline value

The current guideline value of Padasalai Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class III Type - II.

How the guideline value of Padasalai Street has changed

The guideline value for Padasalai Street has seen significant changes over the years. The 2003 revision recorded a value of Rs 387 per sq.ft, which increased to Rs 550 per sq.ft in 2007, marking a 42% rise. By 2017, the value jumped to Rs 1,675 per sq.ft, reflecting a substantial increase of 205%. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, representing a 61% increase from the previous figure.

It is important to note that there are no figures available for the revisions in 2002, 2012, and 2023 for Padasalai Street. Overall, from 2003 to 2024, the guideline value has risen by an impressive 598%.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, which matches the guideline value of Padasalai Street.

• Padisonpuram: Rs 3,200 per sq.ft (2024)
• Padisonpuram Lane: Rs 3,200 per sq.ft (2024)
• Palani Andavar Koil Street: Rs 4,300 per sq.ft (2024)
• Palani Andavar Koil Street Extension: Rs 4,300 per sq.ft (2024)
• Palani Mudali Street: Rs 3,800 per sq.ft (2024)
• Old Vazhai Managar: Rs 2,700 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 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. 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 details.

Which Sub Registrar Office covers Padasalai Street?

The Sub Registrar Office that covers Padasalai Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the government. It is essential for buyers to be aware of this value to ensure compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Padasalai Street?

The current guideline value of Padasalai Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 387 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, which is an overall increase of 598%.

What is the stamp duty rate for property in Padasalai Street?

The stamp duty for property in Padasalai Street is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where is the Purasaivakkam Sub Registrar Office located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the median guideline value in Perambur?

The median guideline value in Perambur is Rs 2,700 per sq.ft, which is the same as the current guideline value for Padasalai Street.