Guideline Value for Padmavathy Nagar 12th Street

Padmavathy Nagar 12th Street guideline value

The current guideline value of Padmavathy Nagar 12th 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 12th Street has changed

The guideline value for Padmavathy Nagar 12th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 2,010 per sq.ft, marking a decrease of 33%. The 2023 revision increased the value to Rs 3,000 per sq.ft, and the latest 2024 revision has raised it to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value saw a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no 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 2024 guideline values 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 12th Street's 2024 figure above this median.

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

Stamp duty and registration fee for property in Padmavathy Nagar 12th Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 33,00,000. The stamp duty at 7% amounts to Rs 2,31,000, and the registration fee at 2% is Rs 66,000, bringing the total to Rs 2,97,000. Stamp duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Padmavathy Nagar 12th Street?

The Sub Registrar Office that covers Padmavathy Nagar 12th 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 here.

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 value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential to consider this value as it impacts the financial obligations associated with the transaction.

Frequently asked questions

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

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

Padmavathy Nagar 12th Street is classified as 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 is stamp duty calculated for properties in Padmavathy Nagar 12th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% of the guideline value.