Guideline Value for Padmavathy Nagar 15th Street

Padmavathy Nagar 15th Street guideline value

The current guideline value of Padmavathy Nagar 15th 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 15th Street has changed

The guideline value for Padmavathy Nagar 15th Street has seen several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. However, the latest revision in 2024 has increased the value to Rs 3,300 per sq.ft, marking a significant increase of 64% from the 2017 figure. Overall, from 2012 to 2024, there has been a slight increase of 10%.

It is important to note that there are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street. The changes reflect the fluctuations in the guideline value over the years, with the most recent increase indicating a return to a higher value.

Guideline values in Madambakkam

In Madambakkam, there are 1151 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 15th Street is above this median.

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

Stamp duty and registration fee for property in Padmavathy Nagar 15th 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 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Padmavathy Nagar 15th Street?

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

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. It serves as a benchmark for determining the minimum value at which a property can be sold or registered. When you buy or sell property, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency in property transactions and ensures that the government receives the correct revenue from stamp duty and registration fees.

Frequently asked questions

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

The current guideline value of Padmavathy Nagar 15th 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 revisions in 2023, 2007, 2003, and 2002 for this street.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000. Duty is charged on the higher of the guideline value and the sale price.

Which Sub Registrar Office covers this street?

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

What is the land classification for Padmavathy Nagar 15th Street?

Padmavathy Nagar 15th Street is classified as Residential Special Type - III according to the guideline value register.