Guideline Value for W-BLOCK "D" SECTOR

W-Block "d" Sector guideline value

The current guideline value for W-Block "d" 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 "d" Sector has changed

The guideline value for W-Block "d" Sector has seen several revisions over the years. In 2007, the guideline value was Rs 2,750 per sq.ft. This increased significantly to Rs 8,000 per sq.ft in 2012, followed by a drop to Rs 5,360 per sq.ft in 2017. The value then rose to Rs 8,000 per sq.ft in 2023, before reaching the current figure of Rs 8,700 per sq.ft in 2024. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

From 2007 to 2012, the guideline value increased by 191%. However, it saw a decline of 33% from 2012 to 2017. The value then surged by 49% from 2017 to 2023, and has increased by 9% from 2023 to 2024. Overall, the guideline value has risen by 216% from 2007 to 2024.

Guideline values in Padi

In Padi, there are 354 streets under the Villivakkam SRO that have a guideline value for 2024, ranging from Rs 2,200 to Rs 13,200 per sq.ft, with a median value of Rs 3,800 per sq.ft. The guideline value for W-Block "d" Sector is above this median.

• W-Block "c" Sector: Rs 8,700 per sq.ft (2024)
• W-BLOCK Inner Side Plot's: Rs 8,700 per sq.ft (2024)
• W-Block "b" Sector: Rs 8,700 per sq.ft (2024)
• W-Block "a" Sector: 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 "d" 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% will be Rs 6,09,000, and the registration fee at 2% will be 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 more details on calculating these fees, you can use the stamp duty and registration fee calculator.

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

The W-Block "d" Sector is covered by 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 plays a crucial role during the registration of property transactions in Padi. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property in Padi, it is essential to be aware of the current guideline value as it directly impacts the financial obligations associated with the transaction. Buyers and sellers should ensure they are informed about these values to avoid any surprises during the registration process.

Frequently asked questions

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

The current guideline value for W-Block "d" 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, starting from Rs 2,750 per sq.ft in 2007 and reaching Rs 8,700 per sq.ft in 2024, marking an overall increase of 216% over this period.

What are the stamp duty and registration fees for property in W-Block "d" Sector?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees amount to Rs 7,83,000.

Which office handles property registrations in this area?

The Villivakkam Sub Registrar Office handles property registrations for W-Block "d" Sector, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How does the guideline value affect buying and selling property?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to be aware of the current guideline value to understand their financial obligations during registration.