Guideline Value for Pada Salai Street

Pada Salai Street guideline value

The current guideline value of Pada Salai Street in Noombal village, under the Kunrathur SRO, is Rs 2,090 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - I.

How the guideline value of Pada Salai Street has changed

The guideline value for Pada Salai Street has seen significant changes over the years. In 2003, the value was Rs 44 per sq.ft, which increased dramatically to Rs 1,273 per sq.ft in 2017, marking a change of +2793%. Following this, the value rose to Rs 1,900 per sq.ft in 2023, representing an increase of +49%. The most recent revision in 2024 set the guideline value at Rs 2,090 per sq.ft, which is a +10% increase from the previous year.

There are no recorded figures for the years 2002, 2007, and 2012 for this street in the register. Overall, from 2003 to 2024, the guideline value has increased by +4650%.

Guideline values in Noombal

Noombal village has a total of 164 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, which matches the current value of Pada Salai Street.

• Padmavathi Nagar: Rs 2,090 per sq.ft (2024)
• Othavadai Street: Rs 2,090 per sq.ft (2024)
• Pallikuppam Kuruku Street: Rs 2,090 per sq.ft (2024)
• Pallikuppam Mayana Road: Rs 2,090 per sq.ft (2024)
• Pallikuppam Perumal Cross Road: Rs 2,090 per sq.ft (2024)
• Pallikuppam Perumal Koil Street: Rs 2,090 per sq.ft (2024)

Stamp duty and registration fee for property in Pada Salai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,090 per sq.ft, the total guideline value amounts to Rs 20,90,000. The stamp duty at 7% would be Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, bringing the total to Rs 1,88,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pada Salai Street?

The Sub Registrar Office that covers Pada Salai Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Noombal, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

During the registration process, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Pada Salai Street?

The current guideline value of Pada Salai Street is Rs 2,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 44 per sq.ft in 2003 to Rs 2,090 per sq.ft in 2024, showing a significant overall increase of +4650% over this period.

What is the registration office for properties on Pada Salai Street?

The registration office for properties on Pada Salai Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Noombal?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 20,90,000 would incur a stamp duty of Rs 1,46,300 at 7%.

What other streets have the same guideline value as Pada Salai Street?

Other streets in Noombal that share the same guideline value of Rs 2,090 per sq.ft include Padmavathi Nagar, Othavadai Street, Pallikuppam Kuruku Street, Pallikuppam Mayana Road, Pallikuppam Perumal Cross Road, and Pallikuppam Perumal Koil Street.