Guideline Value for PADI PUDU NAGAR 1st STREET

PADI PUDU NAGAR 1st STREET guideline value

The current guideline value of PADI PUDU NAGAR 1st STREET is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Padi village under the Villivakkam Sub Registrar Office (SRO) and falls under the Residential Class V Type - I land classification.

How the guideline value of PADI PUDU NAGAR 1st STREET has changed

The guideline value for PADI PUDU NAGAR 1st STREET has seen several revisions over the years. The 2007 revision recorded a value of Rs 850 per sq.ft, which increased significantly to Rs 2,300 per sq.ft in 2012. However, this value dropped by 33% to Rs 1,541 per sq.ft in the 2017 revision. The 2023 revision then saw a notable increase of 49%, bringing the value to Rs 2,300 per sq.ft, followed by a further increase of 9% to the current value of Rs 2,500 per sq.ft in 2024.

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, with the 2024 guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 3,800 per sq.ft, indicating that PADI PUDU NAGAR 1st STREET's current value is below this median.

• PADI PUDU NAGAR 19th STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 2nd STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 18th STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 3rd STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 17th STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 4th STREET: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in PADI PUDU NAGAR 1st 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, totaling Rs 2,25,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers PADI PUDU NAGAR 1st STREET?

The PADI PUDU NAGAR 1st STREET falls under 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 when registering property transactions in Padi. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the buyer must pay the stamp duty based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of PADI PUDU NAGAR 1st STREET?

The current guideline value of PADI PUDU NAGAR 1st 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, marking an overall increase of 194% over this period.

What are the other streets in Padi with the same guideline value?

Other streets in Padi, such as PADI PUDU NAGAR 19th STREET, 2nd STREET, 18th STREET, 3rd STREET, 17th STREET, and 4th STREET, also have a guideline value of Rs 2,500 per sq.ft for 2024.

What is the registration fee based on the guideline value?

The registration fee is calculated at 2% of the guideline value. For example, if the guideline value is Rs 25,00,000, the registration fee would be Rs 50,000.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.