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Guideline Value

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Guideline Value for Padmavathi Nagar 2nd Main Road ( Ward No.15 )

₹2200/sq.ft.

The guideline value for Padmavathi Nagar 2nd Main Road ( Ward No.15 ) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Padmavathi Nagar 2nd Main Road ( Ward No.15 )

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Padmavathi Nagar 2nd Main Road ( Ward No.15 ) guideline value

The current guideline value of Padmavathi Nagar 2nd Main Road ( Ward No.15 ) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Padmavathi Nagar 2nd Main Road ( Ward No.15 ) has changed

The guideline value for Padmavathi Nagar 2nd Main Road has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 2,000 per sq.ft. The 2012 revision also recorded a value of Rs 2,000 per sq.ft, indicating no change from 2012 to 2023. The register has no figures for the years 2002, 2003, 2007, and 2017.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. This reflects the changes and stability in the property values in this area over the years.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for the village is Rs 1,600 per sq.ft, placing Padmavathi Nagar 2nd Main Road's 2024 figure above this median.

Stamp duty and registration fee for property in Padmavathi Nagar 2nd Main Road ( Ward No.15 )

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathi Nagar 2nd Main Road ( Ward No.15 )?

The Sub Registrar Office that covers Padmavathi Nagar 2nd Main Road ( Ward No.15 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value will be referenced to calculate the applicable fees, which are based on the higher of the guideline value or the actual sale price. This ensures transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Padmavathi Nagar 2nd Main Road?

The current guideline value of Padmavathi Nagar 2nd Main Road ( Ward No.15 ) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. There was no change from 2012 to 2023, where the value remained at Rs 2,000 per sq.ft.

What are the other streets with the same guideline value in Madhavaram?

Other streets in Madhavaram with the same guideline value of Rs 2,200 per sq.ft include Padmavathi Nagar 1st Main Road, Padmavathi Nagar Extension, and several cross streets of Padmavathi Nagar Main Road.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.