Guideline Value for Padmavathy Nagar 14th Main Road

Padmavathy Nagar 14th Main Road guideline value

The current guideline value for Padmavathy Nagar 14th Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road 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 Main Road has changed

The guideline value for Padmavathy Nagar 14th Main Road has undergone several revisions over the years. The oldest recorded revision is from 2002, but the register has no figure for this street for the years 2003, 2007, 2017, and 2023. The 2012 revision set the guideline value at Rs 3,000 per sq.ft, which was later increased to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous figure.

In summary, the guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024. This reflects a significant increase over the years, particularly from the last recorded figure in 2012.

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 in this area is Rs 2,400 per sq.ft, indicating that the 2024 figure for Padmavathy Nagar 14th Main Road is above this median.

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

Stamp duty and registration fee for property in Padmavathy Nagar 14th 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, bringing the total cost to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathy Nagar 14th Main Road?

The Sub Registrar Office that covers Padmavathy Nagar 14th 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, in the Chengalpattu registration zone.

You can find your SRO for more details.

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 base value for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized valuation of the property.

When buying or selling property, it is essential to understand that the guideline value may influence the overall transaction costs. Buyers should be aware of the guideline value to prepare for the financial implications of the registration process.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 14th Main Road?

The current guideline value of Padmavathy Nagar 14th Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2012 revision, the guideline value has increased from Rs 3,000 per sq.ft to Rs 3,300 per sq.ft in 2024, representing a 10% increase.

What is the land classification for Padmavathy Nagar 14th Main Road?

Padmavathy Nagar 14th Main Road is classified as Residential Special Type - III.

What are the stamp duty and registration fees for property transactions?

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

Which office handles the registration of properties in this area?

The Selaiyur Sub Registrar Office handles the registration of properties in Padmavathy Nagar 14th Main Road, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.