Guideline Value for Padmavathy Nagar 14th Street

Padmavathy Nagar 14th Street guideline value

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

The guideline value for Padmavathy Nagar 14th Street has undergone several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was followed by a decrease to Rs 2,010 per sq.ft in the 2017 revision. However, the most recent revision in 2024 saw a significant increase, bringing the value up to Rs 3,300 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

When looking at the changes, the guideline value increased by 64% from 2017 to 2024. In contrast, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value increased by 10%.

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. The median guideline value for the village is Rs 2,400 per sq.ft, placing Padmavathy Nagar 14th Street above this median.

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

Stamp duty and registration fee for property in Padmavathy Nagar 14th Street

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 for stamp duty and registration fees 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 Street?

The Sub Registrar Office that covers Padmavathy Nagar 14th 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 details.

How the guideline value is used when you buy or sell in Madambakkam

The guideline value is a crucial factor in property transactions in Madambakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value must be considered for calculating the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with local regulations and to avoid any potential disputes during the registration process. Accurate knowledge of the guideline value helps in making informed decisions during property transactions.

Frequently asked questions

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

The current guideline value of Padmavathy Nagar 14th 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, and then increased to Rs 3,300 per sq.ft in 2024.

What is the land classification for Padmavathy Nagar 14th Street?

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

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is currently set at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Padmavathy Nagar 14th Street?

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