Guideline Value for Padmavathy Nagar 19th Street

Padmavathy Nagar 19th Street guideline value

The current guideline value of Padmavathy Nagar 19th 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 Street has changed

The guideline value for Padmavathy Nagar 19th Street has seen several revisions over the years. The earliest revision available is from 2012, which set the guideline value at Rs 3,000 per sq.ft. The most recent revision, effective from 1 July 2024, has increased this figure to Rs 3,300 per sq.ft, marking a 10% increase from the 2012 value.

There are no figures available for the years 2023, 2017, 2007, 2003, and 2002 in the register for this street. Therefore, the only two revisions with figures are from 2012 and 2024.

Guideline values in Madambakkam

In Madambakkam, there are 1151 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 for Padmavathy Nagar 19th Street is above this median.

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

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

For a 1,000 sq.ft plot at the current guideline value, 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 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Padmavathy Nagar 19th Street?

The Sub Registrar Office covering Padmavathy Nagar 19th 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 information.

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

The guideline value is a crucial factor in the registration process for property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the registration fees and stamp duties are calculated fairly.

When buying or selling a property, the guideline value helps in establishing the official value of the property, which is used to calculate the applicable taxes and fees. It is essential for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Padmavathy Nagar 19th 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 for Padmavathy Nagar 19th Street was Rs 3,000 per sq.ft in 2012 and increased to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002.

What is the land classification of Padmavathy Nagar 19th Street?

Padmavathy Nagar 19th Street is classified as Residential Special Type - III, which indicates the type of development permissible in this area.

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

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000.

Where is the Sub Registrar Office for Padmavathy Nagar 19th Street 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., in the Chengalpattu registration zone.