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Guideline Value

Corporate

Guideline Value for Sri Vadapalani Murugan Nagar

₹770/sq.ft.

The guideline value for Sri Vadapalani Murugan Nagar in Panapakkam village (Padappai SRO, Chennai zone) is Rs 770 per sq.ft, effective 1 July 2024. It was Rs 700 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Panapakkam

Village

Padappai

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹770 /sq.ft.
From 1-4-2023 ₹700 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹469 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹700 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

3/158, Pushpagiri Main Rd, Padappai - 601 301.
044-27174392
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Sri Vadapalani Murugan Nagar

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Sri Vadapalani Murugan Nagar guideline value

The current guideline value of Sri Vadapalani Murugan Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Panapakkam village under the Padappai SRO, classified as Residential Class I Type - I.

How the guideline value of Sri Vadapalani Murugan Nagar has changed

Over the years, the guideline value for Sri Vadapalani Murugan Nagar has seen several revisions. The 2012 revision set the value at Rs 700 per sq.ft, which was then reduced to Rs 469 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 700 per sq.ft, and the most recent 2024 revision raised it to Rs 770 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, from 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panapakkam

In Panapakkam, there are 28 streets under the Padappai SRO that have a guideline value for 2024, ranging from Rs 550 to Rs 990 per sq.ft. The median guideline value is Rs 770 per sq.ft, which is the same as the current guideline value for Sri Vadapalani Murugan Nagar.

Stamp duty and registration fee for property in Sri Vadapalani Murugan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, resulting in a total of Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Vadapalani Murugan Nagar?

The Sri Vadapalani Murugan Nagar area is covered by 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 Panapakkam

The guideline value is a crucial factor during property transactions in Panapakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value is used to assess the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures that the transaction is documented accurately and in accordance with the law.

Frequently asked questions

What is the current guideline value of Sri Vadapalani Murugan Nagar?

The current guideline value of Sri Vadapalani Murugan Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the median guideline value in Panapakkam?

The median guideline value in Panapakkam for 2024 is Rs 770 per sq.ft, which is the same as the current guideline value for Sri Vadapalani Murugan Nagar.

What are the stamp duty and registration fees for a property in Sri Vadapalani Murugan Nagar?

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900, and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which office handles property registrations for Sri Vadapalani Murugan Nagar?

The Padappai Sub Registrar Office handles property registrations for Sri Vadapalani Murugan Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.