Guideline Value for Padasalai Street

Padasalai Street guideline value

The current guideline value of Padasalai Street in Podavoor village is Rs 300 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Special Type - III.

How the guideline value of Padasalai Street has changed

In the 2012 revision, the guideline value for Padasalai Street was Rs 300 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 201 per sq.ft, marking a decrease of 33%. However, in the 2023 revision, the value increased significantly to Rs 300 per sq.ft, reflecting a rise of 49% from the 2017 figure. The 2024 revision has retained this value of Rs 300 per sq.ft, showing no change from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has shown no net change.

Guideline values in Podavoor

In Podavoor, there are 20 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 181 to Rs 600 per sq.ft, with the median value being Rs 250 per sq.ft. Padasalai Street's 2024 figure of Rs 300 per sq.ft is above this median.

• Padavattamman Kovil Street: Rs 300 per sq.ft (2024)
• New Colony: Rs 181 per sq.ft (2024)
• Ponjothi Garden: Rs 500 per sq.ft (2024)
• Mantheivelli Street: Rs 305 per sq.ft (2024)
• Kamadenu Forms: Rs 181 per sq.ft (2024)
• SriDevi Green Farms: Rs 200 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 300 per sq.ft, the guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. 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 precise calculations.

Which Sub Registrar Office covers Padasalai Street?

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

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process for property transactions in Podavoor. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential for both buyers and sellers to be aware of these values to make informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Padasalai Street?

The current guideline value of Padasalai Street is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes: it was Rs 300 per sq.ft in 2012, dropped to Rs 201 per sq.ft in 2017, and then returned to Rs 300 per sq.ft in 2023 and 2024. There are no figures available for the years 2002, 2003, and 2007.

What are the other streets in Podavoor with their guideline values?

Other streets in Podavoor have varying guideline values, with rates ranging from Rs 181 to Rs 600 per sq.ft. For example, New Colony has a value of Rs 181 per sq.ft, while Ponjothi Garden is at Rs 500 per sq.ft.

How is the stamp duty calculated for properties in Padasalai Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 at a rate of 7%.

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

The Sub Registrar Office for Padasalai Street is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can also find your SRO online.