Guideline Value for Padmavathi Nagar Extn 9th Cross Street

Padmavathi Nagar Extn 9th Cross Street guideline value

The current guideline value of Padmavathi Nagar Extn 9th 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 9th Cross Street has changed

In the 2012 revision, the guideline value was set at Rs 3,000 per sq.ft, which remained unchanged until the 2023 revision. The 2023 revision also recorded the guideline value at Rs 3,000 per sq.ft. However, in the 2024 revision, the value increased to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

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

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, with a median value of Rs 2,400 per sq.ft. The guideline value of Padmavathi Nagar Extn 9th Cross Street is above this median.

• Padmavathi Nagar Extn 8th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathi Nagar Extn Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathi Nagar Extn 5th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathi Nagar Extn 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar: Rs 3,300 per sq.ft (2024)
• Padmavathi Nagar Extn 3rd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathi Nagar Extn 9th 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 charges to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Padmavathi Nagar Extn 9th Cross Street?

The Padmavathi Nagar Extn 9th Cross Street falls under 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 during property registration in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair valuation based on government standards.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs incurred during the transaction. It is essential for buyers and sellers to be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Padmavathi Nagar Extn 9th Cross Street?

The current guideline value of Padmavathi Nagar Extn 9th 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 until 2023. In 2024, it increased to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

What is the land classification for Padmavathi Nagar Extn 9th Cross Street?

Padmavathi Nagar Extn 9th Cross Street is classified as Residential Special Type - III.

Where can I find the registration office for this street?

The Selaiyur Sub Registrar Office covers Padmavathi Nagar Extn 9th Cross Street, located at No.36, Bharathmatha Salai, Ruby Mansion, 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 incurs a stamp duty of Rs 2,31,000 at 7%.