Guideline Value for Padmavathy Nagar 20th Main Road

Padmavathy Nagar 20th Main Road guideline value

The current guideline value of Padmavathy Nagar 20th Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - III.

How the guideline value of Padmavathy Nagar 20th Main Road has changed

The guideline value of Padmavathy Nagar 20th Main Road has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 3,000 per sq.ft. This was followed by a decrease in 2017 to Rs 2,010 per sq.ft, representing a decline of 33%. However, the most recent revision in 2024 saw a significant increase to Rs 3,300 per sq.ft, marking a rise of 64% from the 2017 figure.

Overall, comparing the 2012 revision to the current 2024 value, there has been a slight increase of 10%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that have a guideline value for 2024, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Padmavathy Nagar 20th Main Road's 2024 figure above this median.

• Padmavathy Nagar 20th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 20th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 21st Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 1st Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 21st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar 20th Main Road

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, while the registration fee at 2% would be Rs 66,000, bringing the total cost 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathy Nagar 20th Main Road?

The Sub Registrar Office that covers Padmavathy Nagar 20th 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 is a crucial factor when registering property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value influences the overall cost of the transaction, as it is used to calculate the applicable stamp duty and registration fees. Buyers should be aware of the guideline value to understand the financial implications of their purchase.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 20th Main Road?

The current guideline value of Padmavathy Nagar 20th 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 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. There are no recorded figures for the years 2002, 2003, 2007, and 2023.

What is the land classification for Padmavathy Nagar 20th Main Road?

Padmavathy Nagar 20th Main Road is classified as Residential Special Type - III.

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

For a property valued at 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. The duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office located for this area?

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.