Guideline Value for PADI INDUSTRIAL EATATE (MOGAPPAIR EAST SCHEME)

Padi Industrial Eatate (Mogappair East Scheme) guideline value

The current guideline value of Padi Industrial Eatate (Mogappair East Scheme) is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is located in Padi village under the Villivakkam Sub Registrar Office (SRO) and is classified as Commercial Class I Type - II.

How the guideline value of Padi Industrial Eatate (Mogappair East Scheme) has changed

The guideline value has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 900 per sq.ft, which saw a significant increase to Rs 5,000 per sq.ft in 2012, marking a change of +456%. However, it then decreased to Rs 3,350 per sq.ft in 2017, a drop of -33%. The value rose again to Rs 5,000 per sq.ft in 2023, and most recently, it increased to Rs 5,500 per sq.ft in 2024, reflecting a change of +10%.

Between 2017 and 2023, there was a notable increase of +49%. Overall, from 2007 to 2024, the guideline value has increased by +511%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO with a 2024 guideline value 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, which means that Padi Industrial Eatate (Mogappair East Scheme) is above the median value.

• Padi Balaji Nagar (Opp.Tvs Group Companies): Rs 5,400 per sq.ft (2024)
• Padi Kuppam "angalamman Koil Street": Rs 2,200 per sq.ft (2024)
• Padi Balaji Nagar "kuppusamy Street": Rs 5,400 per sq.ft (2024)
• Padi Kuppam "anna Street": Rs 2,200 per sq.ft (2024)
• PADI BALAJI NAGAR 3rd STREET: Rs 5,400 per sq.ft (2024)
• Padi Kuppam "gandhi Street": Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Padi Industrial Eatate (Mogappair East Scheme)

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. 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 Industrial Eatate (Mogappair East Scheme)?

The Padi Industrial Eatate (Mogappair East Scheme) 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 further assistance.

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

The guideline value plays a crucial role during the registration process when buying or selling property. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that these costs are based on a standardized value set by the government.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to or greater than the guideline value to avoid any legal complications. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value for Padi Industrial Eatate?

The current guideline value for Padi Industrial Eatate (Mogappair East Scheme) is Rs 5,500 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 5,500 per sq.ft in 2024, marking an overall increase of +511%.

What are the stamp duty and registration fees for properties in Padi Industrial Eatate?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 4,95,000, calculated based on the current guideline value.

Which Sub Registrar Office covers Padi Industrial Eatate?

The Villivakkam Sub Registrar Office covers Padi Industrial Eatate, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Padi Industrial Eatate?

Padi Industrial Eatate (Mogappair East Scheme) is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.