Guideline Value for Padhuvancheri Mayana Salai

Padhuvancheri Mayana Salai guideline value

The current guideline value of Padhuvancheri Mayana Salai is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Padhuvancheri Mayana Salai has changed

Over the years, the guideline value of Padhuvancheri Mayana Salai has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,000 per sq.ft in the 2023 revision, and finally, it was raised to Rs 1,100 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, there was a significant increase of 49% from 2017 to 2023. The change from 2023 to 2024 is an increase of 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value of Padhuvancheri Mayana Salai is below this median.

• Padhuvancheri Main Road: Rs 2,750 per sq.ft (2024)
• Padhuvancheri Mettu Street: Rs 1,300 per sq.ft (2024)
• Padhuvancheri Link Road: Rs 1,100 per sq.ft (2024)
• Padhuvancheri Road: Rs 2,700 per sq.ft (2024)
• Padhuvancheri Sudalai Road: Rs 1,600 per sq.ft (2024)
• Padhuvancheri Vinayagar Koil Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Padhuvancheri Mayana Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padhuvancheri Mayana Salai?

The Sub Registrar Office that covers Padhuvancheri Mayana Salai is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the 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 buying or selling property in Madambakkam, as it determines the minimum value at which a property can be registered. This value is used by the registration authorities to calculate stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

When a property is sold, the guideline value acts as a benchmark for the transaction. Buyers and sellers must be aware of this value to understand the financial implications of their property dealings, as it affects the overall cost of registration and the taxes involved.

Frequently asked questions

What is the current guideline value of Padhuvancheri Mayana Salai?

The current guideline value of Padhuvancheri Mayana Salai is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Padhuvancheri Mayana Salai?

Padhuvancheri Mayana Salai is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Padhuvancheri Mayana Salai?

The Sub Registrar Office for Padhuvancheri Mayana Salai is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Padhuvancheri Mayana Salai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%.