Guideline Value for PADI PUDU NAGAR 11th STREET

PADI PUDU NAGAR 11th STREET guideline value

The current guideline value of PADI PUDU NAGAR 11th STREET is Rs 2,500 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 V Type - I.

How the guideline value of PADI PUDU NAGAR 11th STREET has changed

Over the years, the guideline value for PADI PUDU NAGAR 11th STREET has seen significant changes. The 2007 revision recorded the value at Rs 850 per sq.ft, which increased to Rs 2,300 per sq.ft in 2012. However, this was followed by a decrease to Rs 1,541 per sq.ft in 2017. The value then rose sharply to Rs 2,300 per sq.ft in 2023, and most recently, it has increased to Rs 2,500 per sq.ft in the 2024 revision.

In terms of percentage changes, from 2007 to 2012, there was a notable increase of 171%. This was followed by a decrease of 33% from 2012 to 2017. The guideline value then saw a significant increase of 49% from 2017 to 2023, and finally, a 9% rise from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 194%.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with guideline values 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, placing PADI PUDU NAGAR 11th STREET's 2024 figure below this median.

• PADI PUDU NAGAR 10th STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 12th STREET: Rs 2,500 per sq.ft (2024)
• Padi Kuppam "v.O.C.Street": Rs 2,200 per sq.ft (2024)
• PADI PUDU NAGAR 13th STREET: Rs 2,500 per sq.ft (2024)
• Padi Kuppam Road: Rs 6,600 per sq.ft (2024)
• PADI PUDU NAGAR 14th STREET: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in PADI PUDU NAGAR 11th STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees to Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details on fees applicable to your property.

Which Sub Registrar Office covers PADI PUDU NAGAR 11th STREET?

The Sub Registrar Office that covers PADI PUDU NAGAR 11th 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 is a critical 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 need to be paid, ensuring that they are calculated based on the official rates set by the government.

When a property transaction occurs, the guideline value helps to establish a fair price for the property in the eyes of the registration authorities. This ensures that all transactions are documented correctly and that the appropriate taxes are collected based on the established guideline values.

Frequently asked questions

What is the current guideline value of PADI PUDU NAGAR 11th STREET?

The current guideline value of PADI PUDU NAGAR 11th STREET is Rs 2,500 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 850 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024, reflecting an overall increase of 194% during this period.

What is the land classification of PADI PUDU NAGAR 11th STREET?

PADI PUDU NAGAR 11th STREET is classified as Residential Class V Type - I, indicating its suitability for residential development.

Which Sub Registrar Office handles registrations in Padi?

The Villivakkam Sub Registrar Office handles registrations for properties in Padi, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in PADI PUDU NAGAR 11th STREET?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% of the guideline value.