Guideline Value for Padmavathy Nagar 13th Street

Padmavathy Nagar 13th Street guideline value

The current guideline value of Padmavathy Nagar 13th 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 13th Street has changed

The guideline value for Padmavathy Nagar 13th 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. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, marking a 49% rise. The latest revision in 2024 sees the value further increasing by 10% to Rs 3,300 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 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 for Padmavathy Nagar 13th Street is above this median.

• Padmavathy Nagar 13th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 14th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 13th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 14th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 12th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 14th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar 13th 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, while the registration fee at 2% would be Rs 66,000, resulting in a total of Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Padmavathy Nagar 13th Street?

The Sub Registrar Office that covers Padmavathy Nagar 13th 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 is a crucial reference point when buying or selling property in Madambakkam, as it determines the minimum value at which a property can be registered. This value is set by the government and is updated periodically to reflect changes in the real estate market.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government collects the appropriate taxes based on the actual value of the transaction.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 13th Street?

The current guideline value of Padmavathy Nagar 13th 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 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012, showing significant fluctuations over the years.

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

For a property valued at Rs 3,300 per sq.ft, the stamp duty is calculated at 7%, and the registration fee at 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,97,000.

Which registration office covers Padmavathy Nagar 13th Street?

The Selaiyur Sub Registrar Office covers Padmavathy Nagar 13th Street, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

What is the land classification for Padmavathy Nagar 13th Street?

Padmavathy Nagar 13th Street is classified as Residential Special Type - III, indicating its suitability for residential purposes under the local regulations.