Guideline Value for Padappai street

Padappai street guideline value

The current guideline value for Padappai street is Rs 101 per sq.ft, effective from 1 July 2024. This street is located in 111. Alapakkam village under the Salavakkam SRO and is classified as Residential Class II Type - I.

How the guideline value of Padappai street has changed

The guideline value for Padappai street has seen significant changes over the years. The 2012 revision set the value at Rs 60 per sq.ft, which then decreased to Rs 40 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased dramatically to Rs 100 per sq.ft, reflecting a 150% rise. The most recent revision in 2024 raised the guideline value to Rs 101 per sq.ft, a 1% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Padappai street. Overall, from 2012 to 2024, the guideline value has increased by 68%.

Guideline values in 111. Alapakkam

In 111. Alapakkam, five streets under the Salavakkam SRO have a 2024 guideline value ranging from Rs 100 to Rs 102 per sq.ft, with a median of Rs 100 per sq.ft. Padappai street's 2024 guideline value of Rs 101 per sq.ft is above this median.

• Zion Nagar: Rs 102 per sq.ft (2024)
• Arulmigu sundaravaratha perumalkovil street south side: Rs 100 per sq.ft (2024)
• Arulmigu sundaravaratha perumalkovil street north side: Rs 100 per sq.ft (2024)
• Arulmigu selliamman kovil street: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Padappai street

For a 1,000 sq.ft plot at the current guideline value of Rs 101 per sq.ft, the total guideline value would be Rs 1,01,000. The stamp duty at 7% would amount to Rs 7,070, and the registration fee at 2% would be Rs 2,020, bringing the total charges to Rs 9,090. The duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padappai street?

Padappai street is covered by the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 111. Alapakkam

The guideline value is a crucial factor in property transactions in 111. Alapakkam, as it determines the amount of stamp duty and registration fees that must be paid during the registration process. Buyers and sellers need to be aware of the current guideline value to ensure accurate financial planning.

When a property is sold, the guideline value serves as a baseline for calculating the stamp duty and registration fees. It is important to note that these fees are charged on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Padappai street?

The current guideline value for Padappai street is Rs 101 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Padappai street has changed from Rs 60 per sq.ft in 2012 to Rs 101 per sq.ft in 2024, showing an overall increase of 68%.

What is the registration office for Padappai street?

The registration office for Padappai street is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

What are the stamp duty and registration fees for a property in Padappai street?

For a property of 1,000 sq.ft at the current guideline value, the total stamp duty and registration fees would amount to Rs 9,090, based on the guideline value of Rs 1,01,000.

What is the land classification for Padappai street?

Padappai street is classified as Residential Class II Type - I, indicating its designation for residential use within the area.