Guideline Value for Padmavathi Nagar Extn 10th Cross Street

Padmavathi Nagar Extn 10th Cross Street guideline value

The current guideline value of Padmavathi Nagar Extn 10th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - III.

How the guideline value of Padmavathi Nagar Extn 10th Cross Street has changed

Padmavathi Nagar Extn 10th Cross Street has seen several revisions in its guideline value over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the 2024 revision, the value increased significantly to Rs 3,300 per sq.ft, representing a rise of 64%.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2023 for this street.

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 Padmavathi Nagar Extn 10th Cross Street is above this median.

• Padmavathi Nagar Extn 11th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathi Nagar Extn 12th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathi Nagar Extn 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathi Nagar Extn 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathi Nagar Extn 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathi Nagar Extn 4th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathi Nagar Extn 10th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that 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 details.

Which Sub Registrar Office covers Padmavathi Nagar Extn 10th Cross Street?

The Sub Registrar Office that covers Padmavathi Nagar Extn 10th Cross Street 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 an essential factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Madambakkam, this value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

It is crucial for buyers and sellers to be aware of the guideline value, as it can affect the overall cost of the transaction. Proper understanding of this value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Padmavathi Nagar Extn 10th Cross Street?

The current guideline value of Padmavathi Nagar Extn 10th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,300 per sq.ft in 2024. Overall, from 2012 to 2024, there has been a 10% increase.

What is the land classification of Padmavathi Nagar Extn 10th Cross Street?

Padmavathi Nagar Extn 10th Cross Street is classified as Residential Special Type - III.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Padmavathi Nagar Extn 10th Cross Street?

The Selaiyur Sub Registrar Office handles registrations for Padmavathi Nagar Extn 10th Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.