Guideline Value for Padasalai Street

Padasalai Street guideline value

The current guideline value of Padasalai Street in Maakaanyam village, under the Sriperumpudur SRO, is Rs 150 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Padasalai Street has changed

Looking at the revisions, the guideline value for Padasalai Street was Rs 150 per sq.ft in both the 2023 and 2024 revisions. Prior to that, in the 2017 revision, the value was Rs 100 per sq.ft, reflecting a 50% increase over the six-year period. The 2012 revision also had a value of Rs 150 per sq.ft, which indicates a decrease of 33% from the previous revision in 2017.

Overall, from the 2012 revision to the 2024 revision, the guideline value has remained the same at Rs 150 per sq.ft. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Maakaanyam

In Maakaanyam, there are 41 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 600 per sq.ft, with a median value of Rs 250 per sq.ft. Padasalai Street's 2024 figure is below this median.

• Navadeepam nagar: Rs 300 per sq.ft (2024)
• MRB Nagar: Rs 200 per sq.ft (2024)
• Mettu Street: Rs 150 per sq.ft (2024)
• RPG Gopika Garden: Rs 150 per sq.ft (2024)
• Kupera Nagar: Rs 200 per sq.ft (2024)
• Sanjeevai Garden: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Padasalai Street

For a 1,000 sq.ft plot at the current rate of Rs 150 per sq.ft, the guideline value would be Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, making the total Rs 13,500. It is important to note that 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 Street?

The Sub Registrar Office that covers Padasalai Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Maakaanyam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Padasalai Street?

The current guideline value of Padasalai Street is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained Rs 150 per sq.ft in the 2023 and 2024 revisions. It was Rs 100 per sq.ft in 2017 and Rs 150 per sq.ft in 2012.

What is the land classification of Padasalai Street?

Padasalai Street is classified as Residential Class II Type - I. This classification is important for determining the applicable guidelines and regulations for property transactions.

Where can I find the Sub Registrar Office for Padasalai Street?

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

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 1,50,000, the stamp duty at 7% would be Rs 10,500.