Guideline Value for Padmavathy Nagar 10th Street

Padmavathy Nagar 10th Street guideline value

The current guideline value of Padmavathy Nagar 10th 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 Padmavathy Nagar 10th Street has changed

According to the guideline value register, the figures for Padmavathy Nagar 10th Street have been revised several times. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is an increase from the 2023 revision where the value was Rs 3,000 per sq.ft. This represents a 10% increase between the two revisions.

Prior to the 2023 revision, the guideline value had remained unchanged at Rs 3,000 per sq.ft since the 2012 revision. There are no figures available for the revisions in 2017, 2007, 2003, or 2002 for this street.

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. The median guideline value for these streets is Rs 2,400 per sq.ft, making the guideline value of Padmavathy Nagar 10th Street above the median.

• Padmavathy Nagar 10th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 11th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 10th 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 12th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar 10th 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, bringing the total charges 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.

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

Which Sub Registrar Office covers Padmavathy Nagar 10th Street?

The Sub Registrar Office that covers Padmavathy Nagar 10th 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 an essential factor in property transactions in Madambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration laws and to calculate applicable duties.

When a property is sold, the guideline value is used to assess the stamp duty and registration fees. These fees are calculated based on the higher of the guideline value or the agreed sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Padmavathy Nagar 10th 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 changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. There was no change from 2012 to 2023, as the value remained at Rs 3,000 per sq.ft during that period.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft property at the current guideline value, the total guideline value would be 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 the registration for Padmavathy Nagar 10th Street?

The Selaiyur Sub Registrar Office handles the registration for Padmavathy Nagar 10th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Padmavathy Nagar 10th Street?

Padmavathy Nagar 10th Street is classified as Residential Special Type - III, indicating its suitability for residential purposes.