Guideline Value for Padmavathy Nagar 10th Cross Street

Padmavathy Nagar 10th Cross Street guideline value

The current guideline value of Padmavathy Nagar 10th 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 the land classification is Residential Special Type - III.

How the guideline value of Padmavathy Nagar 10th Cross Street has changed

The guideline value for Padmavathy Nagar 10th Cross Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the 2023 revision, which was Rs 3,000 per sq.ft. Prior to that, the guideline value remained unchanged at Rs 3,000 per sq.ft since the 2012 revision.

There are no figures available 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%.

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 in the village is Rs 2,400 per sq.ft, placing Padmavathy Nagar 10th Cross Street's 2024 value above this median.

• Padmavathy Nagar 10th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 10th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 11th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathi Nagar Extn Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 11th Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar 10th 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 to 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 more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathy Nagar 10th Cross Street?

The Padmavathy Nagar 10th 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 when registering property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is compared to the sale price, and the duty is charged on the higher amount. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 10th Cross Street?

The current guideline value of Padmavathy Nagar 10th 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 seen a 10% increase from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. It has remained unchanged at Rs 3,000 per sq.ft since the 2012 revision.

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

Several other streets in Madambakkam also have a guideline value of Rs 3,300 per sq.ft for 2024, including Padmavathy Nagar 10th Main Road, Padmavathy Nagar 10th Street, and Padmavathy Nagar 11th Cross Street.

What is the stamp duty for property in Padmavathy Nagar 10th Cross Street?

The stamp duty for a property valued at Rs 33,00,000 would be Rs 2,31,000, while the registration fee would be Rs 66,000, totaling Rs 2,97,000.

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.