Guideline Value for PADI PUDU NAGAR 6th STREET

PADI PUDU NAGAR 6th STREET guideline value

The current guideline value of PADI PUDU NAGAR 6th 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 6th STREET has changed

In the 2007 revision, the guideline value was Rs 850 per sq.ft. This increased significantly to Rs 2,300 per sq.ft in the 2012 revision, marking a rise of 171%. However, in the 2017 revision, the value dropped to Rs 1,541 per sq.ft, which is a decrease of 33%. The value then increased substantially to Rs 2,300 per sq.ft in the 2023 revision, reflecting a 49% rise. The most recent revision in 2024 set the guideline value at Rs 2,500 per sq.ft, which is a 9% increase from the previous year.

The register has no figure for the years 2002 and 2003 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 6th STREET is below this median.

• PADI PUDU NAGAR 5th STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 7th STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 4th STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 8th STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 3rd STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 9th STREET: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in PADI PUDU NAGAR 6th 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, making a total of Rs 2,25,000. Duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers PADI PUDU NAGAR 6th STREET?

The PADI PUDU NAGAR 6th STREET is covered by 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 that need to be paid during the sale or purchase of a property.

When you buy or sell property, the registration office uses the guideline value to calculate the applicable fees, ensuring that the transaction is recorded accurately and legally. This process helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of PADI PUDU NAGAR 6th STREET?

The current guideline value of PADI PUDU NAGAR 6th 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 the years.

What is the land classification for PADI PUDU NAGAR 6th STREET?

PADI PUDU NAGAR 6th STREET is classified as Residential Class V Type - I, indicating its use for residential purposes.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,75,000, and the registration fee would be Rs 50,000, totaling Rs 2,25,000.

Which office registers properties in PADI PUDU NAGAR 6th STREET?

The Villivakkam Sub Registrar Office is responsible for registering properties in PADI PUDU NAGAR 6th STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.