Guideline Value for PADASALAI STREET

Padasalai Street guideline value

The current guideline value of Padasalai Street in Vallur village, under the Thiruvottiyur SRO, is Rs 220 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Padasalai Street has changed

In the 2017 revision, the guideline value for Padasalai Street was Rs 134 per sq.ft. This figure increased significantly to Rs 200 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw the guideline value increase further to Rs 220 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Vallur

In Vallur, there are 75 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 220 to Rs 551 per sq.ft. The median guideline value is Rs 220 per sq.ft, which is the same as the current value for Padasalai Street.

• Pallavan Nagar: Rs 220 per sq.ft (2024)
• Perumal Koil Street: Rs 220 per sq.ft (2024)
• Perumal Nagar: Rs 220 per sq.ft (2024)
• Nandanar Street: Rs 220 per sq.ft (2024)
• Pomanam Nagar: Rs 220 per sq.ft (2024)
• Ponkovil Nagar: Rs 220 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 220 per sq.ft, the total guideline value would be Rs 2,20,000. The stamp duty at 7% would amount to Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total fees together to Rs 19,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

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

Which Sub Registrar Office covers Padasalai Street?

The Sub Registrar Office that covers Padasalai Street 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 Vallur

The guideline value is a crucial factor when registering property transactions in Vallur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

When buying or selling property, the guideline value helps both parties understand the expected costs involved in the registration process. It is essential to refer to the latest guideline values to ensure compliance with local regulations and accurate financial planning.

Frequently asked questions

What is the current guideline value of Padasalai Street?

The current guideline value of Padasalai Street is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 134 per sq.ft to Rs 220 per sq.ft in 2024, reflecting a total increase of 64% over this period.

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

The stamp duty rate for properties in Padasalai Street is 7% of the guideline value or the 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.

What other streets have the same guideline value as Padasalai Street?

Other streets in Vallur that have the same guideline value of Rs 220 per sq.ft include Pallavan Nagar, Perumal Koil Street, Perumal Nagar, Nandanar Street, Pomanam Nagar, and Ponkovil Nagar.