Guideline Value for Padmavathy Nagar 18th Street

Padmavathy Nagar 18th Street guideline value

The current guideline value of Padmavathy Nagar 18th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street 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 Street has changed

The guideline value for Padmavathy Nagar 18th Street has undergone several revisions over the years. The earliest recorded revision was in 2002, but the register has no figure for this street in that year, nor for the years 2003, 2007, 2017, and 2023. The 2012 revision set the guideline value at Rs 3,000 per sq.ft, which was later increased to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase.

From the 2012 revision to the 2024 revision, the guideline value rose from Rs 3,000 to Rs 3,300 per sq.ft. This increase reflects the changing dynamics of the property market in the area, as the current value is now higher than the previous figures.

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, with a median value of Rs 2,400 per sq.ft. The guideline value of Padmavathy Nagar 18th Street is above this median, indicating a relatively higher valuation compared to many other streets in the village.

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

Stamp duty and registration fee for property in Padmavathy Nagar 18th 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 fees together 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.

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

Which Sub Registrar Office covers Padmavathy Nagar 18th Street?

The Sub Registrar Office that covers Padmavathy Nagar 18th 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 when buying or selling property in Madambakkam. It serves as a reference point for determining the stamp duty and registration fees payable during the property transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable fees, which can significantly impact the total cost of the transaction. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Padmavathy Nagar 18th Street?

The current guideline value for Padmavathy Nagar 18th 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 3,300 per sq.ft in 2024, marking a 10% increase. There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023.

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

For a 1,000 sq.ft plot, the total guideline value would be 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.

Which office handles registrations for Padmavathy Nagar 18th Street?

The Selaiyur Sub Registrar Office handles registrations for Padmavathy Nagar 18th Street, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

What is the land classification for Padmavathy Nagar 18th Street?

The land classification for Padmavathy Nagar 18th Street is Residential Special Type - III, indicating its designated use for residential purposes.