Guideline Value for Padasalai Street

Padasalai Street guideline value

The current guideline value of Padasalai Street is Rs 250 per sq.ft, effective from 1 July 2024. This street is located in Kottaiyoor village under the Sunguvarchattram SRO, 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 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 167 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value increased by 50% back to Rs 250 per sq.ft, and it has remained at this figure through the 2024 revision, showing no change.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Padasalai Street. Overall, from 2012 to 2024, the guideline value has not changed, maintaining at Rs 250 per sq.ft.

Guideline values in Kottaiyoor

Kottaiyoor village has 18 streets under the Sunguvarchattram SRO with a 2024 guideline value ranging from Rs 150 to Rs 900 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, placing Padasalai Street at the median value.

• Perumal Kovil Street: Rs 250 per sq.ft (2024)
• Ponniamman Kullakarai Street: Rs 200 per sq.ft (2024)
• Mariamman Kovil street: Rs 200 per sq.ft (2024)
• Kullakarai Cross Street: Rs 200 per sq.ft (2024)
• Sarava Form House: Rs 150 per sq.ft (2024)
• Kottaiyoor Colony Cross Street: Rs 150 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 250 per sq.ft, the guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. Duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padasalai Street?

Padasalai Street falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kottaiyoor. It determines the minimum value at which the property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. 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 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft since 2012, with a drop to Rs 167 per sq.ft in 2017, which was later corrected back to Rs 250 per sq.ft in 2023. There have been no changes from 2023 to 2024.

What are the other streets in Kottaiyoor?

Other streets in Kottaiyoor include Perumal Kovil Street, Ponniamman Kullakarai Street, Mariamman Kovil street, Kullakarai Cross Street, Sarava Form House, and Kottaiyoor Colony Cross Street, with guideline values ranging from Rs 150 to Rs 250 per sq.ft.

Where is the Sunguvarchattram Sub Registrar Office located?

The Sunguvarchattram Sub Registrar Office is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kottaiyoor?

Stamp duty for properties in Kottaiyoor is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the guideline value.