Guideline Value for Pada Salai 4th Cross Street

Pada Salai 4th Cross Street guideline value

The current guideline value of Pada Salai 4th 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 Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - III.

How the guideline value of Pada Salai 4th Cross Street has changed

The guideline value for Pada Salai 4th Cross Street has undergone several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, this figure saw a decrease to Rs 2,680 per sq.ft in 2017. The most recent revision in 2024 shows a substantial increase to Rs 4,400 per sq.ft. Notably, there are no figures available for the years 2023, 2003, and 2002 for this street.

In terms of percentage changes, the guideline value rose by 400% from 2007 to 2012, then decreased by 33% from 2012 to 2017. The value increased by 64% from 2017 to 2024, resulting in an overall increase of 450% from 2007 to 2024.

Guideline values in Kodambakkam

Kodambakkam 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 in this area is Rs 4,900 per sq.ft, making the 2024 figure for Pada Salai 4th Cross Street below that median.

• Pada Salai 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Pada Salai 5th Cross Street: Rs 4,400 per sq.ft (2024)
• Pada Salai 6th Cross Street: Rs 4,400 per sq.ft (2024)
• Pada Salai 7th Cross Street: Rs 4,400 per sq.ft (2024)
• Pada Salai 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Pada Salai 8th Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Pada Salai 4th 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, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pada Salai 4th Cross Street?

The Sub Registrar Office that covers Pada Salai 4th 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 in the registration process when buying or selling property in Kodambakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Pada Salai 4th Cross Street?

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

How much has the guideline value changed over the years?

The guideline value has changed significantly, with an increase of 450% from Rs 800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024.

What is the land classification for Pada Salai 4th Cross Street?

The land classification for Pada Salai 4th Cross Street is Residential Class III Type - III.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Pada Salai 4th Cross Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at a rate of 7%.