Guideline Value for Padmavathi Nagar Extn 11th Cross Street

Padmavathi Nagar Extn 11th Cross Street guideline value

The current guideline value for Padmavathi Nagar Extn 11th 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. The land classification for this area is Residential Special Type - III.

How the guideline value of Padmavathi Nagar Extn 11th Cross Street has changed

The guideline value for Padmavathi Nagar Extn 11th Cross Street has seen several revisions over the years. The earliest available figure is from 2012, where the value was Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in 2017. The most recent revision in 2024 shows a significant increase to Rs 3,300 per sq.ft, marking a 64% rise from the 2017 figure.

It is important to note that there are no registered figures for the years 2023, 2007, 2003, and 2002 for this street. Overall, the guideline value has increased by 10% from the 2012 figure to the 2024 figure.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, indicating that Padmavathi Nagar Extn 11th Cross Street's 2024 figure is above this median.

• Padmavathi Nagar Extn 10th 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 11th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling Rs 2,97,000. 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 Padmavathi Nagar Extn 11th Cross Street?

The Sub Registrar Office that covers Padmavathi Nagar Extn 11th 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 plays a crucial role during property registration in Madambakkam. It is the minimum value set by the government for property transactions, ensuring that properties are not sold below this value. This helps in maintaining transparency and fairness in real estate dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers must pay these fees based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Padmavathi Nagar Extn 11th Cross Street?

The current guideline value for Padmavathi Nagar Extn 11th 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, and then increased to Rs 3,300 per sq.ft in 2024. There are no registered figures for the years 2023, 2007, 2003, and 2002.

What is the land classification for this area?

The land classification for Padmavathi Nagar Extn 11th Cross Street is Residential Special Type - III.

What are the stamp duty and registration fees for a property here?

For a property valued at 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, totaling Rs 2,97,000.

Where can I find the Sub Registrar Office for this area?

The Selaiyur Sub Registrar Office covers Padmavathi Nagar Extn 11th Cross Street and is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.