Guideline Value for Padasalai Street

Padasalai Street guideline value

The current guideline value of Padasalai Street in 1. Nolambur village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Villivakkam SRO and is classified as Residential Class III Type - I.

How the guideline value of Padasalai Street has changed

The guideline value for Padasalai Street has seen several revisions over the years. In the 2017 revision, the value was Rs 2,010 per sq.ft. This increased to Rs 3,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 shows a further increase to Rs 3,300 per sq.ft, which is a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for Padasalai Street.

Guideline values in 1. Nolambur

In 1. Nolambur, there are 73 streets under the Villivakkam SRO that have a guideline value for 2024, ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, indicating that Padasalai Street's 2024 figure is below this median.

• Pacific City: Rs 7,100 per sq.ft (2024)
• NOVA Sprint: Rs 7,100 per sq.ft (2024)
• NOVA Meridian: Rs 4,355 per sq.ft (2024)
• Nova Colours: Rs 4,355 per sq.ft (2024)
• Nolambur Main Road: Rs 7,100 per sq.ft (2024)
• Panjamuga Sivan Koil Street: Rs 4,355 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padasalai Street?

Padasalai Street is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value plays a crucial role in the registration process of property transactions in 1. Nolambur. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value is considered to ensure that the transaction is recorded accurately, and it serves as a benchmark for the value of the property in official records.

Frequently asked questions

What is the current guideline value of Padasalai Street?

The current guideline value of Padasalai Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What is the median guideline value for streets in 1. Nolambur?

The median guideline value for streets in 1. Nolambur is Rs 7,100 per sq.ft, making Padasalai Street's value below this median.

What are the stamp duty rates applicable to Padasalai Street?

The stamp duty rate applicable to properties in Padasalai Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.