Guideline Value for Pada Salai 5th Cross Street

Pada Salai 5th Cross Street guideline value

The current guideline value of Pada Salai 5th 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 is classified as Residential Class III Type - III.

How the guideline value of Pada Salai 5th Cross Street has changed

The guideline value for Pada Salai 5th Cross Street has seen several revisions over the years. The earliest recorded revision in 2007 set the value at Rs 800 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, this figure dropped to Rs 2,680 per sq.ft in the 2017 revision, marking a decrease of 33%. The most recent revision in 2024 shows a substantial increase to Rs 4,400 per sq.ft, reflecting a 64% rise from the 2017 value.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 450%. It is important to note that the register has no figures for the years 2023, 2003, and 2002 for this street.

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 value for these streets is Rs 4,900 per sq.ft, placing the 2024 guideline value of Pada Salai 5th Cross Street below this median.

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

Stamp duty and registration fee for property in Pada Salai 5th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and 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.

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

Which Sub Registrar Office covers Pada Salai 5th Cross Street?

The Sub Registrar Office that covers Pada Salai 5th Cross Street is the Ashok Nagar 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 Kodambakkam

The guideline value plays a crucial role in the registration process of property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling a property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the correct amount is paid to the government during the registration process.

Frequently asked questions

What is the current guideline value of Pada Salai 5th Cross Street?

The current guideline value of Pada Salai 5th 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, reflecting an overall increase of 450% over the years.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 3,96,000, based on the current guideline value of Rs 44,00,000.

Which Sub Registrar Office is responsible for this street?

The Ashok Nagar Sub Registrar Office is responsible for the registration of properties on Pada Salai 5th Cross Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

Are there other streets in Kodambakkam with the same guideline value?

Yes, several other streets in Kodambakkam have the same guideline value of Rs 4,400 per sq.ft as of 2024, including Pada Salai 6th, 7th, 4th, 8th, 3rd, and 2nd Cross Streets.