Guideline Value for Padhuvancheri Sudalai Road

Padhuvancheri Sudalai Road guideline value

The current guideline value of Padhuvancheri Sudalai Road is Rs 1,600 per sq.ft, effective from 1 July 2024. This road is located in Madambakkam village, under the Selaiyur SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Padhuvancheri Sudalai Road has changed

Looking at the revisions, the guideline value for Padhuvancheri Sudalai Road has remained constant at Rs 1,500 per sq.ft from the 2012 revision until the 2023 revision. The 2024 revision saw an increase to Rs 1,600 per sq.ft, which is a 7% rise from the previous year. The register has no figures for the revisions in 2002, 2003, 2007, and 2017.

In summary, from 2012 to 2024, the overall change in the guideline value is an increase of 7%. The 2024 figure is the first increase since 2012, indicating stability in the guideline value during the intervening years.

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. The median guideline value in this area is Rs 2,400 per sq.ft, which means the guideline value of Padhuvancheri Sudalai Road is below this median.

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

Stamp duty and registration fee for property in Padhuvancheri Sudalai Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost for these fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padhuvancheri Sudalai Road?

The Sub Registrar Office that covers Padhuvancheri Sudalai Road 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 details.

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

The guideline value plays a crucial role in the property registration process in Madambakkam. It serves as a reference point for determining the minimum value at which a property can be registered. When a property is sold, the buyer and seller must declare the sale price, but the registration office will charge fees based on the higher of the sale price or the guideline value.

This ensures that the government receives appropriate revenue from property transactions. Buyers should be aware of the guideline value to understand the potential costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Padhuvancheri Sudalai Road?

The current guideline value of Padhuvancheri Sudalai Road is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,500 per sq.ft from the 2012 revision until the 2023 revision. It increased to Rs 1,600 per sq.ft in the 2024 revision, marking a 7% rise from the previous year.

What is the land classification for Padhuvancheri Sudalai Road?

Padhuvancheri Sudalai Road is classified under Residential Class II Type - I. This classification is important for understanding the type of development allowed in the area.

What are the stamp duty and registration fees for properties on this road?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000. Fees are based on the higher of the guideline value or the sale price.

Which office handles property registration for this area?

The Selaiyur Sub Registrar Office is responsible for property registration in the area covering Padhuvancheri Sudalai Road. The office is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.