Guideline Value for Padmavathy Nagar 11th Main Road

Padmavathy Nagar 11th Main Road guideline value

The current guideline value of Padmavathy Nagar 11th 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 11th Main Road has changed

The guideline value for Padmavathy Nagar 11th Main Road has undergone several revisions over the years. The oldest recorded revision is from 2012, where the value was Rs 3,000 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 2,010 per sq.ft. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, marking a 49% rise since 2017. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Notably, there are no recorded guideline values for Padmavathy Nagar 11th Main Road in the revisions from 2002, 2003, and 2007. 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. The median value for these streets is Rs 2,400 per sq.ft, making the 2024 figure for Padmavathy Nagar 11th Main Road above this median.

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

Stamp duty and registration fee for property in Padmavathy Nagar 11th 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 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, making the total cost for these fees 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathy Nagar 11th Main Road?

The Sub Registrar Office that covers Padmavathy Nagar 11th 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 details.

How the guideline value is used when you buy or sell in Madambakkam

The guideline value plays a crucial role during the registration of property transactions in Madambakkam. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of registration. The fees are calculated based on the higher of the guideline value or the sale price, ensuring that the correct amount is paid during the registration process.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 11th Main Road?

The current guideline value of Padmavathy Nagar 11th Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much 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, reflecting a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Padmavathy Nagar 11th Main Road?

The land classification for Padmavathy Nagar 11th Main Road is Residential Special Type - III.

What are the stamp duty and registration fees for a property here?

For a property valued at 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. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers this area?

The Selaiyur Sub Registrar Office covers Padmavathy Nagar 11th Main Road, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.