Guideline Value for Padmavathy Nagar 12th Main Road

Padmavathy Nagar 12th Main Road guideline value

The current guideline value of Padmavathy Nagar 12th 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 12th Main Road has changed

The guideline value for Padmavathy Nagar 12th Main Road has undergone several revisions over the years. The earliest recorded revision is from 2012, with a guideline value of Rs 3,000 per sq.ft. This figure remained until the next revision in 2017, which saw a decrease to Rs 2,010 per sq.ft. In 2023, the value increased to Rs 3,000 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 3,300 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The value then increased by 10% from 2023 to 2024. Overall, comparing the 2012 and 2024 figures, there has been a 10% increase.

Guideline values in Madambakkam

In Madambakkam, the guideline values vary across 1151 streets under the Selaiyur SRO, with the 2024 figures ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for the area is Rs 2,400 per sq.ft, which indicates that the 2024 guideline value for Padmavathy Nagar 12th Main Road is above this median.

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

Stamp duty and registration fee for property in Padmavathy Nagar 12th 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 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. Together, these fees would total Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathy Nagar 12th Main Road?

The Sub Registrar Office that covers Padmavathy Nagar 12th 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, within 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 when registering property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction process.

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

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 12th Main Road?

The current guideline value of Padmavathy Nagar 12th Main Road 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 is the land classification for Padmavathy Nagar 12th Main Road?

The land classification for Padmavathy Nagar 12th Main Road is Residential Special Type - III.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at 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.