Guideline Value for Padmavathy Nagar 19th Cross Street

Padmavathy Nagar 19th Cross Street guideline value

The current guideline value of Padmavathy Nagar 19th 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, classified as Residential Special Type - III.

How the guideline value of Padmavathy Nagar 19th Cross Street has changed

The guideline value for Padmavathy Nagar 19th Cross 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 in 2003, 2007, 2017, or 2023. The next available revision was in 2012, setting the guideline value at Rs 3,000 per sq.ft. This increased to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% rise from the 2012 figure.

In summary, the guideline value changed from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024. This increase reflects the latest valuation, which places the current rate above the median value for Madambakkam streets.

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 for these streets is Rs 2,400 per sq.ft, indicating that Padmavathy Nagar 19th Cross Street's 2024 figure is above this median.

• Padmavathy Nagar 18th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 18th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 19th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 19th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 18th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar 19th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling 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 more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathy Nagar 19th Cross Street?

The Sub Registrar Office that covers Padmavathy Nagar 19th 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, within 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 a critical factor when registering property transactions in Madambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government collects appropriate revenue based on the property's assessed value.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This ensures transparency and fairness in property transactions, as it reflects the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 19th Cross Street?

The current guideline value of Padmavathy Nagar 19th 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 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 figures available for the revisions in 2003, 2007, 2017, and 2023.

What is the land classification for this street?

Padmavathy Nagar 19th Cross Street is classified as Residential Special Type - III. This classification is important for understanding the land use and potential development in the area.

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.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.