Guideline Value for Padasalai Street D.M.Pet

Padasalai Street D.M.Pet guideline value

The current guideline value of Padasalai Street D.M.Pet is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Thirukalukundrem A village, under the Thirukazhukundram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Padasalai Street D.M.Pet has changed

The guideline value for Padasalai Street D.M.Pet has seen several revisions over the years. The most recent revision in 2024 maintains the value at Rs 700 per sq.ft, which is the same as the previous revision in 2023. Prior to that, in 2017, the guideline value was Rs 469 per sq.ft, marking a significant increase of 49% from 2017 to 2023, and an overall increase of 49% from 2017 to 2024.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. As such, the only recorded values are from 2017, 2023, and 2024.

Guideline values in Thirukalukundrem A

In Thirukalukundrem A, there are 149 streets under the Thirukazhukundram SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 1,344 per sq.ft. The median guideline value for these streets is Rs 600 per sq.ft, making the 2024 figure for Padasalai Street D.M.Pet above that median.

• Padasalai Street: Rs 700 per sq.ft (2024)
• Osooramman Koil Street: Rs 400 per sq.ft (2024)
• North Street Mangalam: Rs 600 per sq.ft (2024)
• North Sannathi Street: Rs 900 per sq.ft (2024)
• North Mada Veethi Cross Street: Rs 800 per sq.ft (2024)
• North Mada Veethi: Rs 1,005 per sq.ft (2024)

Stamp duty and registration fee for property in Padasalai Street D.M.Pet

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, while the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. 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 accurate calculations based on your property details.

Which Sub Registrar Office covers Padasalai Street D.M.Pet?

The Sub Registrar Office that covers Padasalai Street D.M.Pet is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. To find your specific SRO, visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Thirukalukundrem A. It serves as the basis for calculating stamp duty and registration fees when registering a property. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the transaction process.

When a property is sold, the guideline value helps in determining the official value of the property for taxation purposes. This ensures that both parties are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of Padasalai Street D.M.Pet?

The current guideline value of Padasalai Street D.M.Pet is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained the same at Rs 700 per sq.ft from 2023 to 2024. It increased by 49% from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023.

What is the land classification for Padasalai Street D.M.Pet?

Padasalai Street D.M.Pet is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Padasalai Street D.M.Pet?

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

How is the stamp duty calculated for properties in Padasalai Street D.M.Pet?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 7,00,000 would incur a stamp duty of Rs 49,000 at 7%.