Guideline Value for Padmavathy Nagar 16th Cross Street

Padmavathy Nagar 16th Cross Street guideline value

The current guideline value of Padmavathy Nagar 16th 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. The land classification for this area is Residential Special Type - III.

How the guideline value of Padmavathy Nagar 16th Cross Street has changed

The guideline value for Padmavathy Nagar 16th Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2024, the value increased significantly to Rs 3,300 per sq.ft, marking a change of +64%. Overall, from 2012 to 2024, the guideline value has seen 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 fluctuations in the guideline values reflect the changes in the real estate landscape in the region.

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 value for these streets is Rs 2,400 per sq.ft, positioning Padmavathy Nagar 16th Cross Street above this median.

• Padmavathy Nagar 15th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 15th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 16th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 16th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 15th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 17th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar 16th 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 amounts to Rs 33,00,000. The stamp duty, charged 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 also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Padmavathy Nagar 16th Cross Street?

The Sub Registrar Office that covers Padmavathy Nagar 16th 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 information.

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

When buying or selling property in Madambakkam, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

The guideline value ensures that the property is registered at a fair price, reflecting the current market conditions. This value is used by the registration department to calculate the necessary fees, which are essential for legal ownership transfer.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 16th Cross Street?

The current guideline value of Padmavathy Nagar 16th 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 to Rs 3,300 per sq.ft in 2024. This represents a +64% increase from 2017 to 2024.

Are there any years without guideline value figures for this street?

Yes, the register has no figures for the years 2023, 2007, 2003, and 2002 for Padmavathy Nagar 16th Cross Street.

What is the land classification for Padmavathy Nagar 16th Cross Street?

The land classification for Padmavathy Nagar 16th Cross Street is Residential Special Type - III.

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.