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 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Padmavathi Nagar Extn 2nd Cross Street has changed

The guideline value register for Padmavathi Nagar Extn 2nd Cross Street shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision, effective from 1 July 2024, lists the guideline value at Rs 3,850 per sq.ft.

There have been no changes between the revisions above, as the only figure available for this street is from the 2024 revision.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Padmavathi Nagar Extn 2nd Cross Street's value below the median.

• Padmavathi Nagar Extn 1st Street: Rs 3,850 per sq.ft (2024)
• Padmavathi Nagar Extn 2nd Street: Rs 3,850 per sq.ft (2024)
• Padmavathi Nagar Extn: Rs 3,850 per sq.ft (2024)
• Padmavathi Nagar Extn 4th Street: Rs 3,850 per sq.ft (2024)
• Padmavathi Nagar Extension 1st Street: Rs 3,850 per sq.ft (2024)
• Padmavathi Nagar Extn 5th Street: Rs 3,850 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 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. 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 information.

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 Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Velachery. It serves as a standard reference for determining the minimum price at which a property can be registered. This value is essential for calculating the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value ensures that the transaction is documented at a fair price, reflecting the value of the property in the market. This helps maintain transparency and accountability in real estate 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 3,850 per sq.ft, effective from 1 July 2024.

What land classification does Padmavathi Nagar Extn 2nd Cross Street fall under?

Padmavathi Nagar Extn 2nd Cross Street is classified as Residential Class II Type - III.

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

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office handles registrations for this street?

The Velacheri Sub Registrar Office handles registrations for Padmavathi Nagar Extn 2nd Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum price for property registration and is essential for calculating stamp duty and registration fees. It ensures transparency and fairness in property transactions.