Guideline Value for W-BLOCK "A" SECTOR

W-Block "a" Sector guideline value

The current guideline value for W-Block "a" Sector in Padi village, under the Villivakkam SRO, is Rs 8,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of W-Block "a" Sector has changed

Over the years, the guideline value for W-Block "a" Sector has seen significant changes. The 2007 revision recorded a guideline value of Rs 2,750 per sq.ft, which increased to Rs 8,000 per sq.ft in 2012. However, from 2012 to 2017, the value decreased to Rs 5,360 per sq.ft. The value then rose dramatically to Rs 8,000 per sq.ft in 2023, before reaching the current rate of Rs 8,700 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 191% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then saw a significant rise of 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 9% increase. Overall, from 2007 to 2024, the guideline value has increased by 216%.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft as of 2024. The median guideline value for these streets is Rs 3,800 per sq.ft, placing W-Block "a" Sector above this median.

• W-Block "b" Sector: Rs 8,700 per sq.ft (2024)
• W-Block "c" Sector: Rs 8,700 per sq.ft (2024)
• W-Block "d" Sector: Rs 8,700 per sq.ft (2024)
• W-BLOCK Inner Side Plot's: Rs 8,700 per sq.ft (2024)
• Welcome Colony: Rs 8,200 per sq.ft (2024)
• Western Apartments (North Main Road): Rs 13,100 per sq.ft (2024)

Stamp duty and registration fee for property in W-Block "a" Sector

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% amounts to Rs 1,74,000, bringing the total cost for these fees to Rs 7,83,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers W-Block "a" Sector?

The Sub Registrar Office that covers W-Block "a" Sector is 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 Padi

The guideline value is a crucial factor in the registration process for property transactions in Padi. It serves as a basis for calculating the stamp duty and registration fees that are applicable during the sale or purchase of property.

Frequently asked questions

What is the current guideline value for W-Block "a" Sector?

The current guideline value for W-Block "a" Sector is Rs 8,700 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 2,750 per sq.ft in 2007 to Rs 8,700 per sq.ft in 2024, reflecting an overall increase of 216% over this period.

What is the median guideline value for streets in Padi?

The median guideline value for streets in Padi is Rs 3,800 per sq.ft, with W-Block "a" Sector being above this median at Rs 8,700 per sq.ft.

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.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 87,00,000, the total fees would amount to Rs 7,83,000.