Guideline Value for PADISONPURAM

Padisonpuram guideline value

The current guideline value of Padisonpuram is Rs 3,200 per sq.ft, effective from 1 July 2024. This area is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Padisonpuram has changed

Since the earliest revision in 2003, the guideline value for Padisonpuram has seen significant changes. The 2003 revision set the value at Rs 583 per sq.ft, which increased to Rs 600 per sq.ft in 2007, marking a 3% rise. The value then surged to Rs 3,000 per sq.ft in 2012, representing a remarkable increase of 400%. However, it dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The most recent revision in 2024 has raised the value to Rs 3,200 per sq.ft, reflecting a 59% increase from the previous figure.

It is important to note that the register has no figures for the years 2023 and 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 449%.

Guideline values in Perambur

In Perambur, there are 1114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Padisonpuram is above this median.

• Padisonpuram Lane: Rs 3,200 per sq.ft (2024)
• Padasalai Street: Rs 2,700 per sq.ft (2024)
• Palani Andavar Koil Street: Rs 4,300 per sq.ft (2024)
• Palani Andavar Koil Street Extension: Rs 4,300 per sq.ft (2024)
• Palani Mudali Street: Rs 3,800 per sq.ft (2024)
• Palla 1st Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padisonpuram

For a 1,000 sq.ft plot at the current guideline value of Rs 3,200 per sq.ft, the total guideline value would be Rs 32,00,000. The stamp duty at 7% would be Rs 2,24,000, and the registration fee at 2% would be Rs 64,000, bringing the total to Rs 2,88,000. 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 details.

Which Sub Registrar Office covers Padisonpuram?

The Sub Registrar Office that covers Padisonpuram is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Perambur

The guideline value is a critical factor in property transactions in Perambur, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of ownership.

Buyers and sellers must be aware that the guideline value can vary significantly between different streets and areas. It is advisable to check the current guideline value before proceeding with any property transaction to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Padisonpuram?

The current guideline value of Padisonpuram is Rs 3,200 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 583 per sq.ft in 2003 to Rs 3,200 per sq.ft in 2024, marking an overall increase of 449% over this period.

What is the land classification of Padisonpuram?

Padisonpuram is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Padisonpuram?

The Sub Registrar Office for Padisonpuram is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for property in Padisonpuram?

Stamp duty for property in Padisonpuram is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 32,00,000 would incur a stamp duty of Rs 2,24,000 at a rate of 7%.