Guideline Value for Padmavathi Nagar Extn 2nd Cross Street

Padmavathi Nagar Extn 2nd Cross Street guideline value

The current guideline value of Padmavathi Nagar Extn 2nd 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 2nd Cross Street has changed

The guideline value for Padmavathi Nagar Extn 2nd Cross Street has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 3,000 per sq.ft. From 2012 to the latest revision in 2024, there has been a 10% increase, bringing the value to Rs 3,300 per sq.ft.

There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street. The 2024 revision marks a significant update compared to the previous recorded value.

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 value for these streets is Rs 2,400 per sq.ft, which means that Padmavathi Nagar Extn 2nd Cross Street's current value is above this median.

• Padmavathi Nagar Extn 1st 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 12th 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 5th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathi Nagar Extn 11th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathi Nagar Extn 2nd 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 would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost of duties 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.

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

Which Sub Registrar Office covers Padmavathi Nagar Extn 2nd Cross Street?

The Sub Registrar Office that covers Padmavathi Nagar Extn 2nd Cross Street is the Selaiyur Sub Registrar Office. The address is 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 serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is registered, the guideline value is used to calculate the duties, ensuring that both the buyer and seller are aware of the financial obligations involved. This helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Padmavathi Nagar Extn 2nd Cross Street?

The current guideline value of Padmavathi Nagar Extn 2nd 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 3,300 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street.

What is the land classification for this street?

Padmavathi Nagar Extn 2nd Cross Street is classified as Residential Special Type - III. This classification impacts the guideline value and the types of properties that can be developed in the area.

Where can I find the Selaiyur Sub Registrar Office?

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 registrations for properties in the area.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be calculated at 7% of this amount.