Guideline Value for PADI PUDU NAGAR 18th STREET

PADI PUDU NAGAR 18th STREET guideline value

The current guideline value for PADI PUDU NAGAR 18th STREET is Rs 2,500 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 - I.

How the guideline value of PADI PUDU NAGAR 18th STREET has changed

The guideline value for PADI PUDU NAGAR 18th STREET has undergone several revisions over the years. The 2007 revision set the value at Rs 850 per sq.ft, which increased significantly to Rs 2,300 per sq.ft in 2012. However, the value dropped to Rs 1,541 per sq.ft in 2017, before rising again to Rs 2,300 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 2,500 per sq.ft, marking a 9% increase from the previous year.

In summary, from 2017 to 2023, the value increased by 49%, and the overall increase from 2007 to 2024 is 194%. The register has no figures for the years 2002 and 2003 for this street.

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 for PADI PUDU NAGAR 18th STREET is below this median.

• PADI PUDU NAGAR 17th STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 19th STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 16th STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 1st STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 15th STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 2nd STREET: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in PADI PUDU NAGAR 18th STREET

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

Which Sub Registrar Office covers PADI PUDU NAGAR 18th STREET?

The PADI PUDU NAGAR 18th STREET is covered by 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 an essential factor when registering property transactions in Padi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the buying or selling process.

When you purchase a property, the guideline value ensures that the transaction is recorded at a fair price, which is crucial for legal and taxation purposes. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of PADI PUDU NAGAR 18th STREET?

The current guideline value of PADI PUDU NAGAR 18th 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 from Rs 850 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024, reflecting an overall increase of 194% over the years.

What is the land classification for PADI PUDU NAGAR 18th STREET?

PADI PUDU NAGAR 18th STREET is classified as Residential Class V Type - I.

Which office handles registration for this street?

The Villivakkam Sub Registrar Office handles registration for PADI PUDU NAGAR 18th STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 2,25,000 in fees.