Guideline Value for Padasalai street(Iyappan nagar)

Padasalai street(Iyappan nagar) guideline value

The current guideline value of Padasalai street (Iyappan nagar) is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village and falls under the Ambattur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Padasalai street(Iyappan nagar) has changed

The guideline value for Padasalai street has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 1,600 per sq.ft in 2012. However, it then decreased to Rs 1,072 per sq.ft in 2017. The value saw a substantial rise to Rs 1,600 per sq.ft in 2023, before reaching the current value of Rs 1,700 per sq.ft in 2024.

From 2023 to 2024, there was an increase of 6%. The change from 2017 to 2023 marked a significant rise of 49%. The value decreased by 33% from 2012 to 2017, while there was a remarkable increase of 700% from 2007 to 2012. Overall, from 2007 to 2024, the guideline value increased by 750%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft, with a median value of Rs 1,300 per sq.ft. The guideline value for Padasalai street (Iyappan nagar) is above this median.

• Om sakthi street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Pallikuda Street (School Street): Rs 1,100 per sq.ft (2024)
• Nova Pavilio: Rs 2,200 per sq.ft (2024)
• Park Street: Rs 1,100 per sq.ft (2024)
• Partha Sarathi Nagar: Rs 1,100 per sq.ft (2024)
• Nehru street (Srinivasa nagar): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padasalai street(Iyappan nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total fees Rs 1,53,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padasalai street(Iyappan nagar)?

Padasalai street (Iyappan nagar) is covered by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Ayappakkam. 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 influences the overall costs involved in the transaction. Buyers should ensure that 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(Iyappan nagar)?

The current guideline value of Padasalai street (Iyappan nagar) is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, showing an overall increase of 750% over the years.

What is the stamp duty for property in Padasalai street(Iyappan nagar)?

The stamp duty for property in Padasalai street is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would be Rs 1,19,000.

Where can I find the Sub Registrar Office for Padasalai street(Iyappan nagar)?

The Ambattur Sub Registrar Office covers Padasalai street (Iyappan nagar) and is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Padasalai street(Iyappan nagar)?

The land classification for Padasalai street (Iyappan nagar) is Residential Special Type - II, which is important for determining the applicable guidelines and regulations for property transactions.