Guideline Value for PADI KUPPAM "V.O.C.STREET"

Padi Kuppam "v.O.C.Street" guideline value

The current guideline value of Padi Kuppam "v.O.C.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 "v.O.C.Street" has changed

Over the years, the guideline value for Padi Kuppam "v.O.C.Street" has seen significant changes. The 2007 revision recorded a value of Rs 405 per sq.ft, which increased drastically to Rs 2,000 per sq.ft in 2012, marking a remarkable increase of 394%. However, this value dropped to Rs 1,340 per sq.ft in the 2017 revision, a decrease of 33%. Following this, the 2023 revision set the value at Rs 2,000 per sq.ft, and the current 2024 revision has further increased it to Rs 2,200 per sq.ft, reflecting a 10% rise.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 443%.

Guideline values in Padi

In Padi village, there are a total of 354 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 3,800 per sq.ft, indicating that Padi Kuppam "v.O.C.Street" is below this median.

• Padi Kuppam Road: Rs 6,600 per sq.ft (2024)
• PADI PUDU NAGAR 10th STREET: Rs 2,500 per sq.ft (2024)
• Padi Kuppam "periyar Street": Rs 2,200 per sq.ft (2024)
• PADI PUDU NAGAR 11th STREET: Rs 2,500 per sq.ft (2024)
• Padi Kuppam "nehru Street": Rs 2,200 per sq.ft (2024)
• PADI PUDU NAGAR 12th STREET: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Padi Kuppam "v.O.C.Street"

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, making the total fees together Rs 1,98,000. It is essential 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 Kuppam "v.O.C.Street"?

The Sub Registrar Office that covers Padi Kuppam "v.O.C.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 further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Padi Kuppam "v.O.C.Street". It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

Understanding the guideline value is essential for both buyers and sellers as it ensures compliance with local regulations and helps in accurately estimating the costs involved in property transactions.

Frequently asked questions

What is the current guideline value of Padi Kuppam "v.O.C.Street"?

The current guideline value of Padi Kuppam "v.O.C.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 changed significantly from Rs 405 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 443% 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, indicating that Padi Kuppam "v.O.C.Street" is below this median.

What are the stamp duty and registration fees for a property in Padi Kuppam "v.O.C.Street"?

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

Where is the Sub Registrar Office for Padi Kuppam "v.O.C.Street" located?

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