Guideline Value for Padasalai Cross Street

Padasalai Cross Street guideline value

The current guideline value of Padasalai Cross Street, located in Mamallapuram village under the Thirukazhukundram SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class V Type - I land classification.

How the guideline value of Padasalai Cross Street has changed

The guideline value for Padasalai Cross Street has seen several revisions over the years. In 2012, the value was set at Rs 500 per sq.ft. This remained unchanged until the 2017 revision, where it dropped to Rs 335 per sq.ft, marking a decrease of 33%. The value then increased to Rs 500 per sq.ft in 2023, and subsequently rose to Rs 550 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%, bringing it up to Rs 500 per sq.ft. Overall, from the 2012 figure to the 2024 figure, there has been a 10% increase. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Mamallapuram

In Mamallapuram, there are 133 streets under the Thirukazhukundram SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 1,650 per sq.ft. The median value for these streets is Rs 935 per sq.ft, indicating that the guideline value for Padasalai Cross Street is below this median.

• Padasalai Cross Street 1,2,3,4,5,6,7: Rs 550 per sq.ft (2024)
• Padasalai Street: Rs 1,100 per sq.ft (2024)
• Othavadai Street: Rs 1,485 per sq.ft (2024)
• Othavadai Cross Street: Rs 1,100 per sq.ft (2024)
• Othavadai 1st Cross Street: Rs 1,100 per sq.ft (2024)
• Old Arts Collage Road, East side, West side: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Padasalai Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total charges to Rs 49,500. 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 Padasalai Cross Street?

The Sub Registrar Office that covers Padasalai Cross Street is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mamallapuram. It is used to determine the stamp duty and registration fees that buyers and sellers must pay during the registration process. The guideline value is essential for ensuring that the property is registered at an appropriate value, which is necessary for legal and tax purposes.

When a property is bought or sold, the guideline value helps establish a baseline for the transaction. This ensures that both parties are aware of the minimum value at which the property can be registered, thereby facilitating a transparent and fair transaction process.

Frequently asked questions

What is the current guideline value of Padasalai Cross Street?

The current guideline value of Padasalai Cross Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Padasalai Cross Street?

Padasalai Cross Street falls under the Residential Class V Type - I land classification.

Where can I find the registration office for Padasalai Cross Street?

The registration office for Padasalai Cross Street is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Mamallapuram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 5,50,000, the stamp duty would be 7% of that amount.