Guideline Value for Padmavathy Nagar 15th Main Road

Padmavathy Nagar 15th Main Road guideline value

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

How the guideline value of Padmavathy Nagar 15th Main Road has changed

The guideline value for Padmavathy Nagar 15th Main Road has seen several revisions over the years. The earliest recorded revision was in 2002, but the register has no figure for this street in it. In 2003, 2007, 2017, and 2023, the register also has no figures for this street. The 2012 revision set the guideline value at Rs 3,000 per sq.ft, which increased to Rs 3,300 per sq.ft in the 2024 revision, marking a change of +10% from the previous value.

Overall, the guideline value has increased from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024. This indicates a steady adjustment in the value over the years, reflecting the current market conditions.

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, placing Padmavathy Nagar 15th Main Road above that median.

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

Stamp duty and registration fee for property in Padmavathy Nagar 15th 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 be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padmavathy Nagar 15th Main Road?

The Sub Registrar Office that covers Padmavathy Nagar 15th 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 information.

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

The guideline value is a critical 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 is used to calculate stamp duty and registration fees, ensuring that the transaction is recorded accurately with the appropriate authorities.

During the registration process, buyers and sellers must provide the guideline value as part of the documentation. This value helps in maintaining transparency and consistency in property transactions, thereby protecting the interests of both parties involved.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 15th Main Road?

The current guideline value of Padmavathy Nagar 15th Main Road 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 3,300 per sq.ft in 2024, which is a +10% increase. There are no figures available for the years 2002, 2003, 2007, 2017, and 2023.

What is the land classification for Padmavathy Nagar 15th Main Road?

Padmavathy Nagar 15th Main Road is classified as Residential Special Type - III, which indicates its suitability for residential development.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Padmavathy Nagar 15th Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would amount to Rs 2,31,000.