Guideline Value for PADI KUPPAM "GANDHI STREET"

Padi Kuppam "gandhi Street" guideline value

The current guideline value of Padi Kuppam "gandhi Street" is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Padi village under the Villivakkam SRO, classified as Residential Class V Type - II.

How the guideline value of Padi Kuppam "gandhi Street" has changed

The guideline value for Padi Kuppam "gandhi Street" has seen several revisions over the years. Starting from Rs 850 per sq.ft in 2007, it increased to Rs 2,000 per sq.ft in 2012, marking a significant rise of 135%. However, it then decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, and finally reached Rs 2,200 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. The overall increase from the 2007 revision to the current 2024 revision is 159%.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with the 2024 guideline values 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, indicating that the guideline value of Padi Kuppam "gandhi Street" is below the median.

• Padi Kuppam "anna Street": Rs 2,200 per sq.ft (2024)
• Padi Kuppam "kamaraj Street": Rs 2,200 per sq.ft (2024)
• Padi Kuppam "angalamman Koil Street": Rs 2,200 per sq.ft (2024)
• Padi Kuppam "nehru Street": Rs 2,200 per sq.ft (2024)
• Padi Industrial Eatate (Mogappair East Scheme): Rs 5,500 per sq.ft (2024)
• Padi Kuppam "periyar Street": Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Padi Kuppam "gandhi Street"

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padi Kuppam "gandhi Street"?

The Sub Registrar Office that covers Padi Kuppam "gandhi Street" is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Padi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Padi Kuppam "gandhi Street"?

The current guideline value of Padi Kuppam "gandhi Street" is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 850 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking a total increase of 159% over the years.

What is the median guideline value for streets in Padi?

The median guideline value for streets in Padi is Rs 3,800 per sq.ft, while Padi Kuppam "gandhi Street" is below this median at Rs 2,200 per sq.ft.

What are the stamp duty and registration fees for properties in Padi Kuppam "gandhi Street"?

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000, resulting in a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Padi Kuppam "gandhi Street"?

The Villivakkam Sub Registrar Office handles property registrations for Padi Kuppam "gandhi Street" and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.