Guideline Value for Pada Salai 8th Cross Street

Pada Salai 8th Cross Street guideline value

The current guideline value of Pada Salai 8th 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 8th Cross Street has changed

The guideline value for Pada Salai 8th Cross Street has seen several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a 400% rise. However, from 2012 to 2017, the value decreased by 33% to Rs 2,680 per sq.ft. The latest revision in 2024 shows a substantial increase to Rs 4,400 per sq.ft, reflecting a 64% rise from the 2017 figure.

There are no figures available for the years 2002, 2003, and 2023 for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value 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 guideline value of Pada Salai 8th Cross Street below this median.

• Pada Salai 7th Cross Street: Rs 4,400 per sq.ft (2024)
• Pada Salai 6th Cross Street: Rs 4,400 per sq.ft (2024)
• Pada Salai 5th Cross Street: Rs 4,400 per sq.ft (2024)
• Pada Salai 4th 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 8th 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, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pada Salai 8th Cross Street?

The Sub Registrar Office covering Pada Salai 8th 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 is a crucial factor in the registration process for property transactions in Kodambakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Pada Salai 8th Cross Street?

The current guideline value of Pada Salai 8th 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, marking an overall increase of 450% over the years.

What is the median guideline value of streets in Kodambakkam?

The median guideline value of streets in Kodambakkam is Rs 4,900 per sq.ft, which is higher than the guideline value of Pada Salai 8th Cross Street.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Pada Salai 8th Cross Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.