Guideline Value for Padmavathy Nagar 15th Cross Street

Padmavathy Nagar 15th Cross Street guideline value

The current guideline value of Padmavathy Nagar 15th 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, classified as Residential Special Type - III.

How the guideline value of Padmavathy Nagar 15th Cross Street has changed

The guideline value for Padmavathy Nagar 15th Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision, reflecting a drop of 33%. However, the latest 2024 revision has increased the value significantly to Rs 3,300 per sq.ft, marking a rise of 64% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a slight increase of 10%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a 2024 guideline value range from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this village is Rs 2,400 per sq.ft, placing Padmavathy Nagar 15th Cross Street above this median.

• Padmavathy Nagar 14th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 14th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 15th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 15th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 14th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 16th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar 15th 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 would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, leading to 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.

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

Which Sub Registrar Office covers Padmavathy Nagar 15th Cross Street?

The Sub Registrar Office that covers Padmavathy Nagar 15th 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, 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

When buying or selling property in Madambakkam, the guideline value serves as a benchmark for determining the minimum value at which a property can be registered. This value is crucial for calculating the applicable stamp duty and registration fees, ensuring that the transactions comply with the legal requirements set by the Registration Department.

The guideline value is updated periodically, reflecting changes in the real estate market. Buyers and sellers should always refer to the latest figures to ensure accurate calculations during property transactions.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 15th Cross Street?

The current guideline value of Padmavathy Nagar 15th 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, and then increased to Rs 3,300 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

What are the other streets in Madambakkam with the same guideline value?

Several other streets in Madambakkam have the same guideline value of Rs 3,300 per sq.ft in 2024, including Padmavathy Nagar 14th Street, 14th Main Road, 15th Main Road, 15th Street, 14th Cross Street, and 16th Cross Street.

How is stamp duty calculated for properties in Padmavathy Nagar 15th Cross Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.

Where is the Sub Registrar Office for Padmavathy Nagar 15th Cross Street located?

The Sub Registrar Office for Padmavathy Nagar 15th Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.