Guideline Value for Padasalai Street

Padasalai Street guideline value

The current guideline value of Padasalai Street in Azhakoor village is Rs 160 per sq.ft, effective from 1 July 2024. This street falls under the Sriperumpudur SRO and is classified as Residential Class I Type - I.

How the guideline value of Padasalai Street has changed

The guideline value for Padasalai Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 160 per sq.ft. In 2017, this value decreased to Rs 107 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased by 50% to Rs 160 per sq.ft, and it remained unchanged through the 2023 revision, which also recorded Rs 160 per sq.ft. The latest revision in 2024 has kept the value steady at Rs 160 per sq.ft, showing no percentage change from the previous year.

It is important to note that there are no recorded figures for Padasalai Street in the revisions from the years 2002, 2003, and 2007. Overall, when considering the period from 2012 to 2024, the guideline value has remained the same at Rs 160 per sq.ft.

Guideline values in Azhakoor

Azhakoor village has a total of 18 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 350 per sq.ft. The median value for these streets is Rs 225 per sq.ft, positioning Padasalai Street's 2024 figure below this median.

• Pallatheru: Rs 250 per sq.ft (2024)
• Perumal Koil Street: Rs 175 per sq.ft (2024)
• Mettu Street: Rs 100 per sq.ft (2024)
• Rathinapuram: Rs 300 per sq.ft (2024)
• Sbi Colony: Rs 350 per sq.ft (2024)
• Sri Azhagar Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Padasalai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 160 per sq.ft, the total guideline value would be Rs 1,60,000. The stamp duty at 7% would amount to Rs 11,200, while the registration fee at 2% would be Rs 3,200, bringing the total cost for these fees to Rs 14,400. 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 further calculations.

Which Sub Registrar Office covers Padasalai Street?

Padasalai Street is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value is a crucial factor during property transactions in Azhakoor, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price, as it affects the applicable stamp duty and registration fees.

When a property is sold, the registration office uses the guideline value to calculate the necessary fees, ensuring that the transaction is recorded accurately. This process helps maintain transparency and standardization in property dealings within the region.

Frequently asked questions

What is the current guideline value of Padasalai Street?

The current guideline value of Padasalai Street is Rs 160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Padasalai Street has remained at Rs 160 per sq.ft since 2012, with a decrease to Rs 107 per sq.ft in 2017, followed by an increase back to Rs 160 per sq.ft in 2023 and 2024.

What is the median guideline value for streets in Azhakoor?

The median guideline value for the 18 streets in Azhakoor is Rs 225 per sq.ft, with Padasalai Street's value being below this median.

What are the stamp duty and registration fees for property in Padasalai Street?

For a property valued at Rs 1,60,000, the stamp duty would be Rs 11,200, and the registration fee would be Rs 3,200, totaling Rs 14,400.

Which office handles registrations for Padasalai Street?

The Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone, handles registrations for Padasalai Street.