Guideline Value for Padmavathy Nagar 12th Cross Street

Padmavathy Nagar 12th Cross Street guideline value

The current guideline value of Padmavathy Nagar 12th 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, and is classified as Residential Special Type - III.

How the guideline value of Padmavathy Nagar 12th Cross Street has changed

The guideline value for Padmavathy Nagar 12th Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and further rose to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the 2012 revision to the current 2024 revision, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values 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, placing the 2024 value of Padmavathy Nagar 12th Cross Street above this median.

• Padmavathy Nagar 11th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 11th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 12th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 12th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 11th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 13th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar 12th Cross 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 to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padmavathy Nagar 12th Cross Street?

The Sub Registrar Office that covers Padmavathy Nagar 12th Cross Street is the Selaiyur Sub Registrar Office. The address is 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 during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction reflects a fair value.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 12th Cross Street?

The current guideline value of Padmavathy Nagar 12th 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 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

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.

Which Sub Registrar Office covers this street?

The Selaiyur Sub Registrar Office covers Padmavathy Nagar 12th Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.

What is the land classification of Padmavathy Nagar 12th Cross Street?

The land classification for Padmavathy Nagar 12th Cross Street is Residential Special Type - III.