Guideline Value for padasalai Street

padasalai Street guideline value

The current guideline value of padasalai Street in Papanguzhi village is Rs 200 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Class I Type - I.

How the guideline value of padasalai Street has changed

The guideline value for padasalai Street has seen several revisions over the years. In 2012, the value was Rs 200 per sq.ft, which remained unchanged until the 2017 revision when it dropped to Rs 134 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 200 per sq.ft, where it has remained through the 2024 revision.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. The current guideline value of Rs 200 per sq.ft as of 2024 is equal to the median guideline value of other streets in Papanguzhi.

Guideline values in Papanguzhi

In Papanguzhi village, there are nine streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 500 per sq.ft. The median value among these streets is Rs 200 per sq.ft, which is the same as the guideline value for padasalai Street.

• odai Street: Rs 300 per sq.ft (2024)
• Palla Street: Rs 200 per sq.ft (2024)
• Perumal Kovil Street: Rs 200 per sq.ft (2024)
• P.M.S Nagar: Rs 300 per sq.ft (2024)
• Sri Sathya Sai Nagar(Akshara City): Rs 500 per sq.ft (2024)
• Thideer Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in padasalai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It is important to note that the 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 specific calculations.

Which Sub Registrar Office covers padasalai Street?

The padasalai Street falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Papanguzhi. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of padasalai Street?

The current guideline value of padasalai Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft in 2012, 2023, and 2024, while it decreased to Rs 134 per sq.ft in 2017. There are no figures available for the years 2002, 2003, and 2007.

What is the land classification for padasalai Street?

padasalai Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property on padasalai Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, these fees total Rs 18,000 based on the current guideline value.

Where can I find the Sub Registrar Office for padasalai Street?

The Sub Registrar Office for padasalai Street is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.