Guideline Value for PADI PUDU NAGAR 5th STREET

PADI PUDU NAGAR 5th STREET guideline value

The current guideline value for PADI PUDU NAGAR 5th 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 5th STREET has changed

The guideline value for PADI PUDU NAGAR 5th STREET has undergone several revisions over the years. The earliest recorded figure is from 2007, when it was Rs 850 per sq.ft. This increased significantly to Rs 2,300 per sq.ft in 2012, marking a 171% rise. However, it then decreased to Rs 1,541 per sq.ft in 2017, reflecting a 33% drop. The value surged again to Rs 2,300 per sq.ft in 2023, and most recently, it has risen to Rs 2,500 per sq.ft in 2024, which is a 9% increase from the previous year. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the increase was notable at 49%, bringing the value back to the 2012 figure. Overall, from the 2007 revision to the current 2024 value, there has been a substantial increase of 194%.

Guideline values in Padi

In Padi, there are 354 streets under the Villivakkam SRO that carry a guideline value for 2024, 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 the guideline value for PADI PUDU NAGAR 5th STREET is below this median.

• PADI PUDU NAGAR 4th STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 6th STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 3rd STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 7th STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 2nd STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 8th STREET: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in PADI PUDU NAGAR 5th 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, making the total cost for these fees 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 detailed calculations.

Which Sub Registrar Office covers PADI PUDU NAGAR 5th STREET?

The Sub Registrar Office that covers PADI PUDU NAGAR 5th 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 plays a crucial role in the registration process when buying or selling property in Padi. It is the basis for calculating stamp duty and registration fees, which are mandatory costs associated with property transactions.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers must be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for PADI PUDU NAGAR 5th STREET?

The current guideline value for PADI PUDU NAGAR 5th 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, showing an overall increase of 194% over the years.

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

Other streets in Padi, such as PADI PUDU NAGAR 4th, 6th, 3rd, 7th, 2nd, and 8th Streets, also have a guideline value of Rs 2,500 per sq.ft for 2024.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 25,00,000, the total fees would amount to Rs 2,25,000.

Which office handles property registrations in Padi?

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