Guideline Value for Padmavathy Nagar 11th Cross Street

Padmavathy Nagar 11th Cross Street guideline value

The current guideline value of Padmavathy Nagar 11th 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, classified as Residential Special Type - III.

How the guideline value of Padmavathy Nagar 11th Cross Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 3,000 per sq.ft. However, the 2024 revision saw an increase to Rs 3,300 per sq.ft, marking a 10% rise from the previous year. The revisions for the years 2002, 2003, 2007, and 2017 do not have any figures recorded for this street.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The change from 2023 to 2024 reflects a significant adjustment of 10% in the guideline value per sq.ft.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value is Rs 2,400 per sq.ft, placing Padmavathy Nagar 11th Cross Street's 2024 figure above this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling 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 also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Padmavathy Nagar 11th Cross Street?

The Sub Registrar Office covering Padmavathy Nagar 11th Cross 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 plays a crucial role in the registration process of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately and transparently.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers must be aware that these fees are based on the guideline value or the actual sale price, whichever is higher, to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 11th Cross Street?

The current guideline value of Padmavathy Nagar 11th 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 changed from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024. There was no change from 2012 to 2023, but a 10% increase occurred from 2023 to 2024.

What are the guideline values of other streets in Madambakkam?

Other streets in Madambakkam have varying guideline values. For example, Padmavathy Nagar 10th Street, 10th Main Road, 11th Main Road, 11th Street, 10th Cross Street, and 12th Cross Street all share a guideline value of Rs 3,300 per sq.ft in 2024.

What is the stamp duty for property in Padmavathy Nagar 11th Cross Street?

The stamp duty for property in Padmavathy Nagar 11th Cross Street is 7% of the guideline value. For example, on a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.

Which Sub Registrar Office covers this area?

The Selaiyur Sub Registrar Office covers Padmavathy Nagar 11th Cross Street. It is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.