Guideline Value for Padmavathy Nagar 20th Cross Street

Padmavathy Nagar 20th Cross Street guideline value

The current guideline value of Padmavathy Nagar 20th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - III.

How the guideline value of Padmavathy Nagar 20th Cross Street has changed

The guideline value for Padmavathy Nagar 20th Cross Street has undergone several revisions over the years. In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the 2024 revision, the value increased significantly to Rs 3,300 per sq.ft, reflecting a rise of 64%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

It is important to note that the register has no figures for the years 2023, 2007, 2003, and 2002 for this street. Therefore, the values mentioned above are the only recorded figures for Padmavathy Nagar 20th Cross Street.

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. The median guideline value in this area is Rs 2,400 per sq.ft, which means that the 2024 figure for Padmavathy Nagar 20th Cross Street is above the median.

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

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, making the total charges Rs 2,97,000. It is important to note that the 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 20th Cross Street?

The Sub Registrar Office that covers Padmavathy Nagar 20th Cross Street is the Selaiyur Sub Registrar Office. The address is 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 minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it directly affects the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value is used to calculate the applicable fees and taxes. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values for different areas.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 20th Cross Street?

The current guideline value of Padmavathy Nagar 20th 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 has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, and then increased to Rs 3,300 per sq.ft in 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

What is the land classification for Padmavathy Nagar 20th Cross Street?

The land classification for Padmavathy Nagar 20th Cross Street is Residential Special Type - III.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot at the current rate, the total charges would amount to Rs 2,97,000.