Guideline Value for PADI PUDU NAGAR 3rd STREET

PADI PUDU NAGAR 3rd STREET guideline value

The current guideline value of PADI PUDU NAGAR 3rd 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 3rd STREET has changed

Over the years, the guideline value for PADI PUDU NAGAR 3rd STREET has seen significant changes. In 2007, the guideline value was Rs 850 per sq.ft. It increased to Rs 2,300 per sq.ft in 2012, marking a substantial rise of 171%. However, this value decreased to Rs 1,541 per sq.ft in 2017, reflecting a drop of 33%. The value then surged to Rs 2,300 per sq.ft in 2023, before reaching the current rate of Rs 2,500 per sq.ft in 2024, which is a 9% increase from the previous year.

The revisions for the years 2002 and 2003 do not have figures available for this street in the register. 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 guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft as of 2024. The median guideline value in this area is Rs 3,800 per sq.ft, indicating that PADI PUDU NAGAR 3rd STREET's current value is below this median.

• PADI PUDU NAGAR 2nd STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 4th STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 1st STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 5th STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 19th STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 6th STREET: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in PADI PUDU NAGAR 3rd STREET

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be 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, making the total costs 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 calculate your costs using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers PADI PUDU NAGAR 3rd STREET?

The Sub Registrar Office covering PADI PUDU NAGAR 3rd 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 plays a crucial role in property transactions in Padi, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the actual sale price, whichever is higher. 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 3rd STREET?

The current guideline value of PADI PUDU NAGAR 3rd 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% over this period.

What are the guideline values of other streets in Padi?

Other streets in Padi have a guideline value of Rs 2,500 per sq.ft in 2024, including PADI PUDU NAGAR 1st, 2nd, 4th, 5th, 6th, and 19th STREETS.

What is the role of the Villivakkam SRO?

The Villivakkam SRO is responsible for property registrations in the Padi area, ensuring that all transactions comply with the applicable guidelines and regulations.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 25,00,000 would incur a stamp duty of Rs 1,75,000 and a registration fee of Rs 50,000.