Guideline Value for Padmavathy Nagar 11th Street

Padmavathy Nagar 11th Street guideline value

The current guideline value of Padmavathy Nagar 11th 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 11th Street has changed

The guideline value for Padmavathy Nagar 11th Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 3,000 per sq.ft. Notably, there was no change in the guideline value from the 2012 revision, which also recorded Rs 3,000 per sq.ft.

Prior to the 2012 revision, there are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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, with a median value of Rs 2,400 per sq.ft. The guideline value of Padmavathy Nagar 11th Street is above this median.

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

Stamp duty and registration fee for property in Padmavathy Nagar 11th 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 and the sale price.

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

Which Sub Registrar Office covers Padmavathy Nagar 11th Street?

The Sub Registrar Office that covers Padmavathy Nagar 11th 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 property transactions in Madambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value is a reference point for the government to assess the value of the property being sold.

When a property is bought or sold, the guideline value assists in ensuring that the transaction is recorded accurately. It helps in maintaining transparency in property dealings and ensures that the appropriate taxes are levied based on the property's value.

Frequently asked questions

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

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

How has the guideline value changed over the years?

From 2012 to 2024, the guideline value increased by 10%. The value remained the same at Rs 3,000 per sq.ft from 2012 to 2023, and then rose to Rs 3,300 per sq.ft in 2024.

What is the land classification of Padmavathy Nagar 11th Street?

Padmavathy Nagar 11th Street is classified as Residential Special Type - III, which indicates its intended use for residential purposes.

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

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.

Which Sub Registrar Office should I approach for registration?

You should approach the Selaiyur Sub Registrar Office located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073 for property registration in Padmavathy Nagar 11th Street.