Guideline Value for Pada Salai 1st Cross Street

Pada Salai 1st Cross Street guideline value

The current guideline value for Pada Salai 1st Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and falls under the Residential Class III Type - III land classification.

How the guideline value of Pada Salai 1st Cross Street has changed

The guideline value for Pada Salai 1st Cross Street has seen several revisions over the years. The earliest revision listed is from 2007, when the guideline value was Rs 800 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 400% rise. However, in 2017, the value dropped to Rs 2,680 per sq.ft, a decrease of 33%. The most recent revision in 2024 has brought the guideline value back up to Rs 4,400 per sq.ft, which is a 64% increase from the 2017 figure.

It is important to note that there are no figures available for the revisions in 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which means that the 2024 guideline value of Rs 4,400 per sq.ft for Pada Salai 1st Cross Street is below this median.

• Pada Salai 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Pada Salai 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Pachayaippan Naicken Street: Rs 4,900 per sq.ft (2024)
• Pada Salai 4th Cross Street: Rs 4,400 per sq.ft (2024)
• Pachaiyappan Naicker 2nd Street: Rs 3,300 per sq.ft (2024)
• Pada Salai 5th Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Pada Salai 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Pada Salai 1st Cross Street?

The Sub Registrar Office that covers Pada Salai 1st Cross Street is the Ashok Nagar 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 details.

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

The guideline value is a crucial factor when registering property transactions in Kodambakkam. It serves as a benchmark for determining the minimum sale price of a property, ensuring that all transactions are recorded at a fair value as per the government regulations.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential components of the property registration process. This ensures transparency and compliance with local laws.

Frequently asked questions

What is the current guideline value for Pada Salai 1st Cross Street?

The current guideline value for Pada Salai 1st Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 450% over this period.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office should I contact for property registration in this area?

The Ashok Nagar Sub Registrar Office is responsible for property registration in this area, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

Are there other streets in Kodambakkam with similar guideline values?

Yes, there are several other streets in Kodambakkam with similar guideline values, including Pada Salai 2nd Cross Street, Pada Salai 3rd Cross Street, and others, all valued at Rs 4,400 per sq.ft in 2024.