Guideline Value for Padmavathi Nagar Extn 1st Cross Street

Padmavathi Nagar Extn 1st Cross Street guideline value

The current guideline value of Padmavathi Nagar Extn 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Padmavathi Nagar Extn 1st Cross Street has changed

According to the guideline value register, the first recorded figure for Padmavathi Nagar Extn 1st Cross Street appears in the 2012 revision, which set the value at Rs 3,000 per sq.ft. The most recent revision in 2024 shows an increase to Rs 3,300 per sq.ft, marking a 10% increase from the 2012 figure.

There are no figures available for the years 2002, 2003, 2007, 2017, and 2023 in the register for this street. This lack of data means the 2012 and 2024 revisions are the only points of reference for the guideline value changes.

Guideline values in Madambakkam

In Madambakkam, there are 1151 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 for the village is Rs 2,400 per sq.ft, placing Padmavathi Nagar Extn 1st Cross Street above this median.

• Padmavathi Nagar Extn 12th 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 11th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathi Nagar Extn 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathi Nagar Extn 10th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathi Nagar Extn 1st 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 the duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathi Nagar Extn 1st Cross Street?

The Sub Registrar Office that covers Padmavathi Nagar Extn 1st 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 a crucial factor in the registration process when buying or selling property in Madambakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a legally recognized value.

When you register a property, the guideline value helps in calculating the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Padmavathi Nagar Extn 1st Cross Street?

The current guideline value of Padmavathi Nagar Extn 1st 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 increased from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, representing a 10% increase. There are no figures available for the revisions in 2002, 2003, 2007, 2017, and 2023 for this street.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft. Padmavathi Nagar Extn 1st Cross Street's guideline value is above this median, indicating a higher valuation in this area.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft plot at Rs 3,300 per sq.ft would incur a total fee of Rs 2,97,000.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office handles the registration for properties in the area.