Guideline Value for Panchayat Union Salai

Panchayat Union Salai guideline value

The current guideline value of Panchayat Union Salai is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Padappai village, under the Padappai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Panchayat Union Salai has changed

The guideline value for Panchayat Union Salai has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 85 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in the 2012 revision, marking a rise of 1,312%. However, the 2017 revision saw a decrease to Rs 804 per sq.ft, which was a drop of 33%. The value then rose to Rs 1,200 per sq.ft in the 2023 revision, a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 1,320 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for Panchayat Union Salai in the 2002 and 2003 revisions.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,000 per sq.ft. The median value for these streets is Rs 830 per sq.ft, placing Panchayat Union Salai's 2024 figure above this median.

• Ottirai Vadai Street: Rs 830 per sq.ft (2024)
• Periyar Nagar: Rs 830 per sq.ft (2024)
• Om Shakthi Nagar Phase II: Rs 830 per sq.ft (2024)
• Om Shakthi Nagar: Rs 830 per sq.ft (2024)
• Officers Colony: Rs 830 per sq.ft (2024)
• N.S.K.Street: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Panchayat Union Salai

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 be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Panchayat Union Salai?

The Sub Registrar Office that covers Panchayat Union Salai is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Padappai. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. The guideline value is essential for ensuring that the transaction is registered accurately and legally.

When a property is sold, the guideline value helps establish a baseline for the sale price, ensuring that both parties are aware of the minimum value recognized by the government. This helps in maintaining transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Panchayat Union Salai?

The current guideline value of Panchayat Union Salai 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 significantly from Rs 85 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 1,453%.

What is the median guideline value in Padappai?

The median guideline value for the 146 streets in Padappai is Rs 830 per sq.ft, with Panchayat Union Salai's value being above this median.

What are the stamp duty and registration fees for properties in Panchayat Union Salai?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total cost would be Rs 1,18,800.

Where is the Sub Registrar Office for Panchayat Union Salai located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.