Guideline Value for Padmavathy Nagar 18th Main Road

Padmavathy Nagar 18th Main Road guideline value

The current guideline value of Padmavathy Nagar 18th Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Padmavathy Nagar 18th Main Road has changed

The guideline value for Padmavathy Nagar 18th Main Road has undergone several revisions over the years. The earliest available revision is from 2012, when the guideline value was Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in the 2017 revision. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2023.

In the most recent revision in 2024, the guideline value increased significantly to Rs 3,300 per sq.ft, representing a 64% increase from the 2017 figure. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10% despite the dip observed between 2012 and 2017.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that have 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 18th Main Road above this median.

• Padmavathy Nagar 18th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 18th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 19th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 17th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 17th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 19th Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar 18th 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 at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees 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.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathy Nagar 18th Main Road?

The Sub Registrar Office that covers Padmavathy Nagar 18th 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, within the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the property is not sold for less than its assessed value, thereby maintaining a standard in property transactions.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This means that both buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 18th Main Road?

The current guideline value of Padmavathy Nagar 18th 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 2,010 per sq.ft in 2017, and then to Rs 3,300 per sq.ft in 2024. There are no figures available for the revisions in 2002, 2003, 2007, and 2023.

What is the land classification for Padmavathy Nagar 18th Main Road?

The land classification for Padmavathy Nagar 18th Main Road is Residential Special Type - III.

What are the stamp duty and registration fees for properties on this road?

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. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Padmavathy Nagar 18th Main Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.