Guideline Value for Padmavathi Nagar Extn 4th Cross Street

Padmavathi Nagar Extn 4th Cross Street guideline value

The current guideline value of Padmavathi Nagar Extn 4th 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 4th Cross Street has changed

The guideline value for Padmavathi Nagar Extn 4th Cross Street has seen several changes over the years. In the 2012 revision, the guideline value was set at Rs 3,000 per sq.ft. The most recent revision in 2024 increased this value to Rs 3,300 per sq.ft, marking a 10% increase from the previous figure.

There are no recorded guideline values for this street in the years 2023, 2017, 2007, 2003, and 2002. Thus, the only available figures are from the 2012 and 2024 revisions.

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. The median value is Rs 2,400 per sq.ft, which means that Padmavathi Nagar Extn 4th Cross Street's 2024 figure is above this median.

• Padmavathi Nagar Extn 3rd 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 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathi Nagar Extn 8th 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 9th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathi Nagar Extn 4th 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 fees together 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 calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathi Nagar Extn 4th Cross Street?

The Sub Registrar Office that covers Padmavathi Nagar Extn 4th 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 property transactions in Madambakkam. It is used to determine the stamp duty and registration fees required when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

During the registration process, the guideline value serves as a reference point for calculating the applicable fees. It is essential for both parties to understand that the duty is charged based on the higher of the guideline value or the sale price, ensuring that the correct amount is paid at registration.

Frequently asked questions

What is the current guideline value of Padmavathi Nagar Extn 4th Cross Street?

The current guideline value of Padmavathi Nagar Extn 4th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much 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 recorded figures for the years 2023, 2017, 2007, 2003, and 2002.

What is the land classification for this street?

The land classification for Padmavathi Nagar Extn 4th Cross Street is Residential Special Type - III.

What is the stamp duty for a property in this area?

The stamp duty for a property in Padmavathi Nagar Extn 4th Cross Street is calculated at 7% of the guideline value or the sale price, whichever is higher.

Where is the 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, in the Chengalpattu registration zone.