Guideline Value for Padbanaban Avenue

Padbanaban Avenue guideline value

The current guideline value of Padbanaban Avenue is Rs 1,201 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Gooduvancheri SRO, and is classified as Residential Special Type - II.

How the guideline value of Padbanaban Avenue has changed

The guideline value for Padbanaban Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft. The value then increased to Rs 1,200 per sq.ft in the 2023 revision, and finally, the 2024 revision has set the current guideline value at Rs 1,201 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has remained the same, showing no increase or decrease.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 1,200 per sq.ft, placing Padbanaban Avenue's 2024 figure above that median.

• Om Vasan Nagar: Rs 1,200 per sq.ft (2024)
• Nisha Nagar Extn: Rs 1,200 per sq.ft (2024)
• Nisha Nagar: Rs 1,200 per sq.ft (2024)
• Pandian Avenue: Rs 1,200 per sq.ft (2024)
• Pearl Enclave: Rs 1,200 per sq.ft (2024)
• Periyar Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Padbanaban Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,201 per sq.ft, the total guideline value amounts to Rs 12,01,000. The stamp duty at 7% would be Rs 84,070, and the registration fee at 2% would be Rs 24,020, bringing the total cost together to Rs 1,08,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padbanaban Avenue?

The Sub Registrar Office that covers Padbanaban Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Madambakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Padbanaban Avenue?

The current guideline value of Padbanaban Avenue is Rs 1,201 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,201 per sq.ft in 2024.

What is the land classification for Padbanaban Avenue?

Padbanaban Avenue is classified as Residential Special Type - II.

Where can I find the Sub Registrar Office for Padbanaban Avenue?

The Gooduvancheri Sub Registrar Office covers Padbanaban Avenue, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Padbanaban Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 84,070.