Guideline Value for Padmavathy Nagar 10th Main Road

Padmavathy Nagar 10th Main Road guideline value

The current guideline value of Padmavathy Nagar 10th Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This street 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 Padmavathy Nagar 10th Main Road has changed

The guideline value for Padmavathy Nagar 10th Main Road has seen several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in 2017, representing a decline of 33%. However, the value increased significantly to Rs 3,000 per sq.ft in 2023, marking a rise of 49%. The latest revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 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 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 Padmavathy Nagar 10th Main Road is above this median.

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

Stamp duty and registration fee for property in Padmavathy Nagar 10th 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, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Padmavathy Nagar 10th Main Road?

The Sub Registrar Office that covers Padmavathy Nagar 10th Main Road 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 buying or selling property in Madambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as per government regulations.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. 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 Main Road?

The current guideline value of Padmavathy Nagar 10th 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 changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally set at Rs 3,300 per sq.ft in 2024.

What is the land classification for Padmavathy Nagar 10th Main Road?

The land classification for Padmavathy Nagar 10th Main Road is Residential Special Type - III.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Padmavathy Nagar 10th Main Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.