Guideline Value for Padasalai Street

Padasalai Street guideline value

The current guideline value of Padasalai Street in Nasarathpettai village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Poonamallee SRO and is 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 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. This was a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, marking a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that 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 increased by 10%.

Guideline values in Nasarathpettai

Nasarathpettai has 19 streets under the Poonamallee SRO that carry a guideline value for 2024, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, which is the same as the guideline value for Padasalai Street.

• Periya chetti theru enkira gandhi street: Rs 1,320 per sq.ft (2024)
• Nataraja Nagar: Rs 1,320 per sq.ft (2024)
• Rajarathinam nagar: Rs 1,320 per sq.ft (2024)
• Mettu Street: Rs 1,320 per sq.ft (2024)
• Sathiyamoorthy Street: Rs 1,320 per sq.ft (2024)
• Shri Vaaru Avenue: Rs 1,320 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or 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 is covered by the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Nasarathpettai. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the transaction reflects a fair value in the eyes of the law.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Padasalai Street?

The current guideline value of Padasalai Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Padasalai Street?

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

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

The Poonamallee Sub Registrar Office covers Padasalai Street and is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

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

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, on a property valued at Rs 13,20,000, the stamp duty would amount to Rs 92,400.