Guideline Value for PADI PUDU NAGAR 16th STREET

PADI PUDU NAGAR 16th STREET guideline value

The current guideline value of PADI PUDU NAGAR 16th STREET is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Padi village and falls under the Villivakkam SRO, classified as Residential Class V Type - I.

How the guideline value of PADI PUDU NAGAR 16th STREET has changed

The guideline value for PADI PUDU NAGAR 16th STREET has seen several revisions over the years. The 2007 revision recorded a guideline value of Rs 850 per sq.ft, which increased significantly to Rs 2,300 per sq.ft in 2012. However, from 2012 to 2017, the value decreased to Rs 1,541 per sq.ft, marking a decline of 33%. The subsequent revisions saw an increase, with the 2017 figure at Rs 1,541 per sq.ft rising to Rs 2,300 per sq.ft in 2023, and finally reaching Rs 2,500 per sq.ft in 2024, reflecting a 9% increase from the previous year.

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 194%.

Guideline values in Padi

In Padi, there are 354 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 13,200 per sq.ft, with a median value of Rs 3,800 per sq.ft. The guideline value of PADI PUDU NAGAR 16th STREET is below this median.

• PADI PUDU NAGAR 15th STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 17th STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 14th STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 18th STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 13th STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 19th STREET: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in PADI PUDU NAGAR 16th 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, charged at 7%, would amount to Rs 1,75,000, while the registration fee at 2% would be Rs 50,000. This brings the total cost for stamp duty and registration 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 accurate calculations.

Which Sub Registrar Office covers PADI PUDU NAGAR 16th STREET?

The Sub Registrar Office that covers PADI PUDU NAGAR 16th 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 more information.

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

The guideline value is a crucial factor during the registration of property transactions in Padi. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the authorities.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This value ensures transparency and fairness in the property registration process.

Frequently asked questions

What is the current guideline value of PADI PUDU NAGAR 16th STREET?

The current guideline value of PADI PUDU NAGAR 16th 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, showing an overall increase of 194% over the years.

What are the stamp duty and registration fees for properties in this street?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would be Rs 2,25,000.

Which office handles property registrations for PADI PUDU NAGAR 16th STREET?

The Villivakkam Sub Registrar Office handles property registrations for PADI PUDU NAGAR 16th STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for PADI PUDU NAGAR 16th STREET?

PADI PUDU NAGAR 16th STREET is classified as Residential Class V Type - I, indicating its designation for residential purposes.