Guideline Value for Padasalai Street

Padasalai Street guideline value

The current guideline value of Padasalai Street in 5. Athipattu village under the Konnur SRO is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Padasalai Street has changed

The guideline value for Padasalai Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, up from Rs 1,200 per sq.ft in 2023, marking an increase of 8%. Prior to that, the 2017 revision recorded a value of Rs 804 per sq.ft, reflecting a significant increase of 49% to the 2023 figure. The register has no figures for the years 2002, 2003, 2007, and 2012.

Overall, comparing the 2017 and 2024 revisions, there has been a 62% increase in the guideline value. The revisions illustrate a steady rise in the value of Padasalai Street over the years.

Guideline values in 5. Athipattu

In 5. Athipattu, there are 119 streets under the Konnur SRO with a 2024 guideline value range from Rs 1,100 to Rs 7,650 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that Padasalai Street's current value is below this median.

• Palaru Street: Rs 2,400 per sq.ft (2024)
• N.S.K. Street(Chelliamman nagar): Rs 2,200 per sq.ft (2024)
• New Century Colony: Rs 2,400 per sq.ft (2024)
• Nethaji street: Rs 1,300 per sq.ft (2024)
• Periyar Nagar: Rs 1,100 per sq.ft (2024)
• Nehru Street 2Street(Chelliamman nagar): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Padasalai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padasalai Street?

Padasalai Street is covered by the Konnur Sub Registrar Office located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai, within the Chennai registration zone.

To find your specific Sub Registrar Office, you can visit find your SRO.

How the guideline value is used when you buy or sell in 5. Athipattu

The guideline value is a crucial factor during the registration of property transactions in 5. Athipattu. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it can impact the overall costs involved in the transaction. Buyers should ensure they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Padasalai Street?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 804 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2024, representing an overall increase of 62% over this period.

What is the land classification of Padasalai Street?

Padasalai Street is classified as Residential Class II Type - II, indicating its suitability for residential development.

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

For a property valued at Rs 13,00,000, the stamp duty is Rs 91,000 and the registration fee is Rs 26,000, totaling Rs 1,17,000.

Which office handles property registrations for Padasalai Street?

The Konnur Sub Registrar Office handles property registrations for Padasalai Street, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.