Guideline Value for Padmavathi Nagar Extn 5th Cross Street

Padmavathi Nagar Extn 5th Cross Street guideline value

The current guideline value of Padmavathi Nagar Extn 5th 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, classified as Residential Special Type - III.

How the guideline value of Padmavathi Nagar Extn 5th Cross Street has changed

Looking at the revisions, the guideline value for Padmavathi Nagar Extn 5th Cross Street has seen changes over the years. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is a 10% increase from the 2023 revision of Rs 3,000 per sq.ft. Prior to this, the 2012 revision also recorded Rs 3,000 per sq.ft, indicating no change from 2012 to 2023. The register has no figures for the revisions in 2002, 2003, 2007, and 2017.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. This consistent value in the earlier years reflects stability in the guideline value for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, placing the 2024 value of Padmavathi Nagar Extn 5th Cross Street above the median.

• Padmavathi Nagar Extn 4th 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 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathi Nagar Extn 9th 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 Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathi Nagar Extn 5th 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 cost for these fees to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Padmavathi Nagar Extn 5th Cross Street?

The Sub Registrar Office covering Padmavathi Nagar Extn 5th 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

When buying or selling property in Madambakkam, the guideline value plays a crucial role during the registration process. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

It is essential to ensure that the sale price is not lower than the guideline value, as the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Padmavathi Nagar Extn 5th Cross Street?

The current guideline value of Padmavathi Nagar Extn 5th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased by 10% from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. There was no change from 2012 to 2023.

What is the land classification of this street?

Padmavathi Nagar Extn 5th Cross Street is classified as Residential Special Type - III, indicating its suitability for residential purposes.

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

The Selaiyur Sub Registrar Office covers Padmavathi Nagar Extn 5th Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

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, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.