Guideline Value for PADI BALAJI NAGAR "KUPPUSAMY STREET"

Padi Balaji Nagar "kuppusamy Street" guideline value

The current guideline value of Padi Balaji Nagar "kuppusamy Street" is Rs 5,400 per sq.ft, effective from 1 July 2024. This street is located in Padi village under the Villivakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Padi Balaji Nagar "kuppusamy Street" has changed

The guideline value for Padi Balaji Nagar "kuppusamy Street" has undergone several revisions over the years. In 2007, the guideline value was Rs 900 per sq.ft, which significantly increased to Rs 5,000 per sq.ft in 2012. However, this value decreased to Rs 3,350 per sq.ft in 2017. The 2023 revision saw a rise to Rs 5,000 per sq.ft, and the most recent 2024 revision has set the value at Rs 5,400 per sq.ft. The register has no figures for the years 2002 and 2003.

Notably, the changes between revisions show an increase of 456% from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a significant increase of 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 500%.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, placing Padi Balaji Nagar "kuppusamy Street" above this median.

• PADI BALAJI NAGAR 3rd STREET: Rs 5,400 per sq.ft (2024)
• Padi Balaji Nagar (Opp.Tvs Group Companies): Rs 5,400 per sq.ft (2024)
• PADI BALAJI NAGAR 2nd STREET: Rs 5,400 per sq.ft (2024)
• Padi Industrial Eatate (Mogappair East Scheme): Rs 5,500 per sq.ft (2024)
• PADI BALAJI NAGAR 1st STREET: Rs 5,400 per sq.ft (2024)
• Padi Kuppam "angalamman Koil Street": Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Padi Balaji Nagar "kuppusamy Street"

For a 1,000 sq.ft plot at the current guideline value of Rs 5,400 per sq.ft, the total guideline value would be Rs 54,00,000. The stamp duty at 7% would amount to Rs 3,78,000, and the registration fee at 2% would be Rs 1,08,000, bringing the total to Rs 4,86,000. 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 Padi Balaji Nagar "kuppusamy Street"?

The Sub Registrar Office that covers Padi Balaji Nagar "kuppusamy Street" is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for additional information.

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

The guideline value is an essential factor when buying or selling property in Padi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers must consider the guideline value to ensure compliance with legal requirements during property registration.

Additionally, the guideline value helps in assessing the property’s worth during negotiations. It provides a standard reference point for both buyers and sellers, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Padi Balaji Nagar "kuppusamy Street"?

The current guideline value of Padi Balaji Nagar "kuppusamy Street" is Rs 5,400 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 900 per sq.ft in 2007 to Rs 5,400 per sq.ft in 2024, marking an overall increase of 500% over the years.

What is the land classification for Padi Balaji Nagar "kuppusamy Street"?

Padi Balaji Nagar "kuppusamy Street" is classified as Residential Class III Type - I.

Where can I find the registration office for properties in Padi?

The registration office for properties in Padi is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How do stamp duty and registration fees work in Padi?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. It is crucial for buyers to be aware of these costs when planning a property transaction.