Guideline Value for Padmavathy Nagar 1st Main Road

Padmavathy Nagar 1st Main Road guideline value

The current guideline value of Padmavathy Nagar 1st 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, and the land classification is Residential Special Type - III.

How the guideline value of Padmavathy Nagar 1st Main Road has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This marked a change of +10% to the current value of Rs 3,300 per sq.ft in the 2024 revision. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

Thus, the only revisions with recorded figures are from 2012 to 2024, showing an increase from Rs 3,000 to Rs 3,300 per sq.ft. This change reflects the current valuation as per the latest revision.

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 for Padmavathy Nagar 1st Main Road is above this median.

• Padmavathy Nagar 1st Cross Street (Near Maruthi): Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 20th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 19th Street: 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 1st Main Road

For a 1,000 sq.ft plot at the current rate, the guideline value is 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padmavathy Nagar 1st Main Road?

The Sub Registrar Office that covers Padmavathy Nagar 1st 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, 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 plays a crucial role in property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When registering a property, the guideline value is used to calculate the applicable duties, ensuring that both buyers and sellers adhere to the legal requirements set by the Registration Department.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 1st Main Road?

The current guideline value of Padmavathy Nagar 1st 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 changed from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, reflecting an increase of +10%.

What are the registration fees for properties in this area?

Registration fees are calculated based on the guideline value. For example, on a 1,000 sq.ft plot valued at Rs 33,00,000, the registration fee would be Rs 66,000 at 2%.

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.

What is the land classification of Padmavathy Nagar 1st Main Road?

The land classification for Padmavathy Nagar 1st Main Road is Residential Special Type - III.