Guideline Value for PADI PUDU NAGAR MAIN ROAD

Padi Pudu Nagar Main Road guideline value

The current guideline value of Padi Pudu Nagar Main Road is Rs 2,900 per sq.ft, effective from 1 July 2024. This street is located in Padi village and falls under the Villivakkam SRO, classified as Commercial Class I Type - III.

How the guideline value of Padi Pudu Nagar Main Road has changed

The guideline value has seen several revisions over the years. In 2007, the value was Rs 900 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012, marking a 200% rise. However, it then decreased to Rs 1,809 per sq.ft in 2017, reflecting a decline of 33%. The value then rose to Rs 2,700 per sq.ft in 2023, a 49% increase from the previous figure. The latest revision in 2024 has set the value at Rs 2,900 per sq.ft, which is a 7% increase from 2023.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 222%.

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 value is Rs 3,800 per sq.ft, placing the guideline value of Padi Pudu Nagar Main Road below this median.

• Padi Pudu Nagar "koil Street": Rs 2,500 per sq.ft (2024)
• Padi Pudu Nagar "medi Mix Avenue": Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 9th STREET: Rs 2,500 per sq.ft (2024)
• Padi Pudu Nagar "m.G.R.Nagar": Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 8th STREET: Rs 2,500 per sq.ft (2024)
• PADI PUDU NAGAR 7th STREET: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Padi Pudu Nagar Main Road

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total to Rs 2,61,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Padi Pudu Nagar Main Road?

The Sub Registrar Office that covers Padi Pudu Nagar Main Road 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 is a critical factor in the registration process for property transactions in Padi. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers must be aware of the current guideline value to accurately assess their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Padi Pudu Nagar Main Road?

The current guideline value of Padi Pudu Nagar Main Road is Rs 2,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 2,900 per sq.ft in 2024, reflecting an overall increase of 222% over the years.

What are the stamp duty and registration fees for properties in Padi Pudu Nagar Main Road?

For a 1,000 sq.ft plot, the stamp duty would be Rs 2,03,000, and the registration fee would be Rs 58,000, totaling Rs 2,61,000.

Which office handles registrations for properties in Padi?

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

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that the transaction is recorded at an appropriate value for legal and taxation purposes.