Guideline Value for Padmavathy Nagar 14th Cross Street

Padmavathy Nagar 14th Cross Street guideline value

The current guideline value of Padmavathy Nagar 14th 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 14th Cross Street has changed

The guideline value for Padmavathy Nagar 14th Cross 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 was reduced to Rs 2,010 per sq.ft. Following this, the value increased significantly to Rs 3,000 per sq.ft in the 2023 revision, and it has now risen to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. 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 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 14th Cross Street is above this median.

• Padmavathy Nagar 13th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 13th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 14th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 14th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 13th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 15th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar 14th 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 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. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padmavathy Nagar 14th Cross Street?

The Sub Registrar Office that covers Padmavathy Nagar 14th Cross 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, 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 an essential factor when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum value of a property, which helps in calculating the stamp duty and registration fees during the registration process.

When a property is registered, the guideline value is used to ensure that the transaction is recorded at a value that reflects the prevailing market conditions. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 14th Cross Street?

The current guideline value of Padmavathy Nagar 14th 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 is the land classification for Padmavathy Nagar 14th Cross Street?

The land classification for Padmavathy Nagar 14th Cross Street is Residential Special Type - III.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

Which office handles the registration for Padmavathy Nagar 14th Cross Street?

The Selaiyur Sub Registrar Office handles the registration for Padmavathy Nagar 14th Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.