Guideline Value for Padmavathi Nagar Extn Main Road

Padmavathi Nagar Extn Main Road guideline value

The current guideline value of Padmavathi Nagar Extn Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Padmavathi Nagar Extn Main Road has changed

The guideline value for Padmavathi Nagar Extn Main Road has seen several revisions over the years. The latest revision in 2024 set the value at Rs 3,300 per sq.ft, which is an increase from Rs 3,000 per sq.ft in the 2023 revision. Notably, there was no change between the 2012 and 2023 revisions, as both years maintained the value at Rs 3,000 per sq.ft.

Looking further back, the guideline value has remained unchanged at Rs 3,000 per sq.ft from the 2012 revision until the 2023 revision. The register has no figures for the years 2017, 2007, 2003, and 2002 for this street. Overall, from 2012 to 2024, 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 for Padmavathi Nagar Extn Main Road is above this median.

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

Stamp duty and registration fee for property in Padmavathi Nagar Extn Main Road

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. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathi Nagar Extn Main Road?

The Sub Registrar Office that covers Padmavathi Nagar Extn Main Road is the Selaiyur Sub Registrar Office. The address is No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 plays a crucial role in the registration process when buying or selling property in Madambakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Padmavathi Nagar Extn Main Road?

The current guideline value of Padmavathi Nagar Extn Main Road 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 increased 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, where it remained at Rs 3,000 per sq.ft.

What is the land classification for Padmavathi Nagar Extn Main Road?

The land classification for Padmavathi Nagar Extn Main Road is Residential Special Type - III.

What are the other streets in Madambakkam with the same guideline value?

Several other streets in Madambakkam have the same guideline value of Rs 3,300 per sq.ft for 2024, including Padmavathi Nagar Extn 9th Cross Street, Padmavathi Nagar Extn 8th Cross Street, and Padmavathi Nagar Extn 5th Cross Street, among others.

Where is the Selaiyur 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.