Guideline Value for Padasalai Street

Padasalai Street guideline value

The current guideline value of Padasalai Street is Rs 600 per sq.ft, effective from 1 July 2024. This street is located in Thirukalukundrem A village, under the Thirukazhukundram SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Padasalai Street has changed

According to the register, there have been several revisions for the guideline value of Padasalai Street. The 2017 revision set the value at Rs 402 per sq.ft. In the following 2023 revision, the value remained unchanged at Rs 600 per sq.ft. The latest revision in 2024 also maintains the value at Rs 600 per sq.ft, indicating no change from the previous year.

Between the 2017 and 2023 revisions, there was an increase of 49%. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 49% as well. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

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 value is Rs 600 per sq.ft, which is equal to the guideline value of Padasalai Street.

• Padasalai Street D.M.Pet: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. It is important to note that duty is charged on the higher of the guideline value and 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 Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Thirukalukundrem A. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being sold or purchased.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Padasalai Street?

The current guideline value of Padasalai Street is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Padasalai Street has remained at Rs 600 per sq.ft from 2023 to 2024. There was a significant increase of 49% from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023.

What is the land classification for Padasalai Street?

Padasalai Street is classified as Residential Class I Type - III according to the land classification records.

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

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

How are stamp duty and registration fees calculated for properties?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 6,00,000 would incur a stamp duty of Rs 42,000 and a registration fee of Rs 12,000.