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Guideline Value

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Guideline Value for PADI BALAJI NAGAR 2nd STREET

₹5400/sq.ft.

The guideline value for Padi Balaji Nagar 2nd Street in Padi village (Villivakkam SRO, Chennai zone) is Rs 5400 per sq.ft, effective 1 July 2024. It was Rs 5000 per sq.ft from 1 April 2023, a 8% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Padi

Village

Villivakkam

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹5400 /sq.ft.
From 1-4-2023 ₹5000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3350 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹5000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹900 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 ( Near By Nolambur Eb Office )
044-29561092
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Padi Balaji Nagar 2nd Street

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PADI BALAJI NAGAR 2nd STREET guideline value

The current guideline value of PADI BALAJI NAGAR 2nd STREET is Rs 5,400 per sq.ft, effective from 1 July 2024. This street 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 2nd STREET has changed

The guideline value for PADI BALAJI NAGAR 2nd STREET has seen several revisions over the years. In 2007, the guideline value was Rs 900 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it dropped to Rs 3,350 per sq.ft in 2017. The value then rose to Rs 5,000 per sq.ft in 2023 before reaching the current rate of Rs 5,400 per sq.ft in 2024.

From 2007 to 2012, there was a remarkable increase of 456%. Following that, the value decreased by 33% from 2012 to 2017. The guideline value then increased by 49% from 2017 to 2023, and it rose by 8% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 500%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Padi

In Padi, 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 guideline value in this area is Rs 3,800 per sq.ft, making the current value of PADI BALAJI NAGAR 2nd STREET above that median.

Stamp duty and registration fee for property in PADI BALAJI NAGAR 2nd STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 5,400 per sq.ft, the total guideline value amounts to Rs 54,00,000. The stamp duty at 7% would be Rs 3,78,000, and the registration fee at 2% would be Rs 1,08,000, resulting in a total of 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.

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

Which Sub Registrar Office covers PADI BALAJI NAGAR 2nd STREET?

The PADI BALAJI NAGAR 2nd STREET falls under 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 is a crucial factor in the registration process when buying or selling property in Padi. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is registered at a fair value, which helps in maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of PADI BALAJI NAGAR 2nd STREET?

The current guideline value of PADI BALAJI NAGAR 2nd 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 from Rs 900 per sq.ft in 2007 to Rs 5,400 per sq.ft in 2024, reflecting an overall increase of 500% over this period.

What are the other streets in Padi with the same guideline value?

Other streets in Padi that share the same guideline value of Rs 5,400 per sq.ft for 2024 include PADI BALAJI NAGAR 1st STREET, PADI BALAJI NAGAR 3rd STREET, Padi Balaji Nagar "kuppusamy Street", and Padi Balaji Nagar (Opp.Tvs Group Companies).

What is the registration fee for property in PADI BALAJI NAGAR 2nd STREET?

The registration fee for property in PADI BALAJI NAGAR 2nd STREET is calculated at 2% of the guideline value. For a 1,000 sq.ft plot, this amounts to Rs 1,08,000.

Where can I find the Sub Registrar Office for PADI BALAJI NAGAR 2nd STREET?

The Sub Registrar Office covering PADI BALAJI NAGAR 2nd STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.