Guideline Value for Padmavathi Nagar Extn 8th Cross Street

Padmavathi Nagar Extn 8th Cross Street guideline value

The current guideline value of Padmavathi Nagar Extn 8th 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 8th Cross Street has changed

The guideline value for Padmavathi Nagar Extn 8th Cross Street has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from the 2023 revision of Rs 3,000 per sq.ft. Notably, there was no change in the guideline value from the 2012 revision, which also recorded Rs 3,000 per sq.ft.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a 2024 guideline value range from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, making the guideline value for Padmavathi Nagar Extn 8th Cross Street above the median.

• Padmavathi Nagar Extn 5th 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 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathi Nagar Extn Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathi Nagar Extn 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathi Nagar Extn 2nd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathi Nagar Extn 8th 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, making the total fees together Rs 2,97,000. It's important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Padmavathi Nagar Extn 8th Cross Street?

The Sub Registrar Office that covers Padmavathi Nagar Extn 8th 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 when registering property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, impacting the stamp duty and registration fees payable.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a fair price, preventing undervaluation. This process helps maintain transparency and integrity in real estate transactions.

Frequently asked questions

What is the current guideline value of Padmavathi Nagar Extn 8th Cross Street?

The current guideline value of Padmavathi Nagar Extn 8th 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 remained at Rs 3,000 per sq.ft from 2012 to 2023, with a 10% increase to Rs 3,300 per sq.ft in 2024. There are no figures available for the revisions in 2002, 2003, 2007, and 2017.

What is the median guideline value in Madambakkam?

The median guideline value for streets in Madambakkam is Rs 2,400 per sq.ft. Padmavathi Nagar Extn 8th Cross Street's guideline value is above this median.

What are the stamp duty and registration fees for property here?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 33,00,000. The stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for this street?

The Selaiyur Sub Registrar Office handles registrations for Padmavathi Nagar Extn 8th Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.