Guideline Value for Padmavathy Nagar 17th Main Road

Padmavathy Nagar 17th Main Road guideline value

The current guideline value of Padmavathy Nagar 17th Main Road 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 Main Road has changed

The guideline value for Padmavathy Nagar 17th Main Road has seen revisions over the years. The oldest recorded revision is from 2002, but the register has no figure for this street in that year, nor in 2003, 2007, 2017, or 2023. The next available revision is from 2012, where the guideline value was Rs 3,000 per sq.ft. This was an increase from the previous figures, reflecting a change of 10%.

The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, marking a further increase of 10% from the 2012 figure. This shows a consistent upward trend in the guideline value for this street over the years.

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 the 2024 figure for Padmavathy Nagar 17th Main Road above this median.

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

Stamp duty and registration fee for property in Padmavathy Nagar 17th 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 amounts to Rs 33,00,000. The stamp duty is charged at 7%, which would be Rs 2,31,000, and the registration fee is at 2%, totaling Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For a detailed calculation of stamp duty and registration fees, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathy Nagar 17th Main Road?

The Padmavathy Nagar 17th Main Road falls under 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 an essential factor when registering a property in Madambakkam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When selling or buying property, the guideline value ensures that the transaction is recorded at a fair value, as it reflects the prevailing market conditions set by the local authorities. Buyers and sellers should be aware of the guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value for Padmavathy Nagar 17th Main Road?

The current guideline value for Padmavathy Nagar 17th 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 for Padmavathy Nagar 17th Main Road has changed from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, representing a 10% increase. There are no recorded figures for the years 2002, 2003, 2007, 2017, or 2023.

What is the land classification for this area?

The land classification for Padmavathy Nagar 17th Main Road is Residential Special Type - III, indicating its designated use for residential purposes.

What are the stamp duty and registration fees based on the guideline value?

For a property valued at 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, totaling Rs 2,97,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

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. This office handles registrations for properties in the area.