Guideline Value for PADI BALAJI NAGAR (OPP.TVS GROUP COMPANIES)

Padi Balaji Nagar (Opp.Tvs Group Companies) guideline value

The current guideline value for Padi Balaji Nagar (Opp.Tvs Group Companies) is Rs 5,400 per sq.ft, effective from 1 July 2024. This area is located in Padi village under the Villivakkam SRO and is classified as Residential Class III Type - I.

How the guideline value of Padi Balaji Nagar (Opp.Tvs Group Companies) has changed

The guideline value for Padi Balaji Nagar has seen several revisions over the years. Starting from Rs 499 per sq.ft in 2002, it increased to Rs 560 per sq.ft in 2003, marking a 12% rise. The value then rose significantly to Rs 900 per sq.ft in 2007, which was a 61% increase. By 2012, the value had jumped to Rs 5,000 per sq.ft, reflecting a substantial increase of 456%. However, in 2017, the value decreased to Rs 3,350 per sq.ft, a decline of 33%. The value rose again to Rs 5,000 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 5,400 per sq.ft, an 8% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 982%. There are no figures available for any revisions other than those listed for this street.

Guideline values in Padi

In Padi, there are 354 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 13,200 per sq.ft, with a median value of Rs 3,800 per sq.ft. The guideline value for Padi Balaji Nagar (Opp.Tvs Group Companies) is above this median.

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

Stamp duty and registration fee for property in Padi Balaji Nagar (Opp.Tvs Group Companies)

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, while the registration fee at 2% would be Rs 1,08,000. Together, the total cost for these fees would be 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 information on fees.

Which Sub Registrar Office covers Padi Balaji Nagar (Opp.Tvs Group Companies)?

The Sub Registrar Office that covers Padi Balaji Nagar 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 more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Padi. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is bought or sold, the guideline value is typically used to determine the minimum value on which stamp duty is calculated. This ensures that the transaction is recorded at a value that reflects the current market conditions as per the official register.

Frequently asked questions

What is the current guideline value of Padi Balaji Nagar?

The current guideline value of Padi Balaji Nagar (Opp.Tvs Group Companies) 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 increased from Rs 499 per sq.ft in 2002 to Rs 5,400 per sq.ft in 2024, reflecting an overall increase of 982% over the years.

What is the land classification for Padi Balaji Nagar?

Padi Balaji Nagar is classified as Residential Class III Type - I, which indicates its designation for residential use.

Where can I find the Sub Registrar Office for Padi Balaji Nagar?

The Sub Registrar Office for Padi Balaji Nagar is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 54,00,000, the stamp duty would be Rs 3,78,000 and the registration fee would be Rs 1,08,000.