Guideline Value for Padmavathy Nagar 17th Cross Street

Padmavathy Nagar 17th Cross Street guideline value

The current guideline value of Padmavathy Nagar 17th 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 17th Cross Street has changed

The guideline value for Padmavathy Nagar 17th Cross Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 3,000 per sq.ft. In the subsequent 2024 revision, this value increased to Rs 3,300 per sq.ft, reflecting a change of 10% from the previous figure.

There are no recorded figures for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street. Thus, the only relevant revisions are from 2012 and 2024.

Guideline values in Madambakkam

In Madambakkam, there are a total of 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 these streets is Rs 2,400 per sq.ft, placing Padmavathy Nagar 17th Cross Street's current value above that median.

• Padmavathy Nagar 16th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 16th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 17th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 17th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 16th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 18th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar 17th 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, and the registration fee at 2% would be Rs 66,000. Together, these fees would total 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 17th Cross Street?

The Sub Registrar Office that covers Padmavathy Nagar 17th 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

The guideline value is a crucial factor during the registration process of property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees, which are based on this value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the current guideline value, as it impacts the overall costs involved in the transaction. Buyers should ensure that the property is registered at the correct guideline value to avoid any legal complications.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 17th Cross Street?

The current guideline value of Padmavathy Nagar 17th 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 increased from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. There are no recorded figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the land classification for this street?

The land classification for Padmavathy Nagar 17th Cross Street is Residential Special Type - III.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the same amount.

Where is the Sub Registrar Office for this area located?

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