Guideline Value for Padasalai Street

Padasalai Street guideline value

The current guideline value of Padasalai Street in Mannurpet village, under the Konnur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Padasalai Street has changed

The guideline value for Padasalai Street has undergone several revisions over the years. In 2002, the value was Rs 151 per sq.ft, which increased to Rs 167 per sq.ft in 2003, marking an 11% rise. By 2007, the value further increased to Rs 400 per sq.ft, reflecting a significant 140% increase. In 2012, the value was Rs 1,000 per sq.ft, which was a 150% increase from the previous revision. However, this was followed by a decrease to Rs 670 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 1,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 1,100 per sq.ft, showing a 10% increase from the previous year.

There are no figures available for the revisions in years other than those listed. The overall change from 2002 to 2024 is an increase of 628% in the guideline value per sq.ft.

Guideline values in Mannurpet

Mannurpet village has 38 streets under the Konnur SRO, with guideline values in 2024 ranging from Rs 1,100 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, positioning Padasalai Street's 2024 figure below this median.

• Pattaraivakkam Road: Rs 1,700 per sq.ft (2024)
• Nehru Nagar: Rs 1,300 per sq.ft (2024)
• Perumal Koil Street: Rs 1,300 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,700 per sq.ft (2024)
• Pudu Pillaiyar Koil Street: Rs 1,700 per sq.ft (2024)
• Mugapper Road: Rs 3,300 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 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padasalai Street?

The Sub Registrar Office covering Padasalai Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Mannurpet. It determines the minimum value at which the property can be registered, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Padasalai Street?

The current guideline value of Padasalai Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Padasalai Street has seen several revisions, increasing from Rs 151 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, which is an overall increase of 628%.

What is the median guideline value in Mannurpet?

The median guideline value for streets in Mannurpet is Rs 1,300 per sq.ft, while Padasalai Street's 2024 figure is below this median.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 99,000, based on the rates of 7% for stamp duty and 2% for registration fees.

Where is the Sub Registrar Office for Padasalai Street located?

The Konnur Sub Registrar Office, which covers Padasalai Street, is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.