Guideline Value for Padmavathy Nagar 21st Main Road

Padmavathy Nagar 21st Main Road guideline value

The current guideline value of Padmavathy Nagar 21st 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 21st Main Road has changed

The guideline value for Padmavathy Nagar 21st Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. However, the most recent revision in 2024 increased the value to Rs 3,300 per sq.ft, marking a significant increase of 64% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no 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 with a 2024 guideline value 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 21st Main Road above this median.

• Padmavathy Nagar 21st Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 20th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 21th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 20th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 22nd main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 20th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar 21st 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, and the registration fee at 2% would be Rs 66,000, bringing the total cost together 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 our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Padmavathy Nagar 21st Main Road?

The Sub Registrar Office that covers Padmavathy Nagar 21st 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 an important factor in property transactions, as it is used to determine the stamp duty and registration fees payable at the time of registration. Buyers and sellers should be aware that the guideline value is set by the government and can vary based on location and property type.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 21st Main Road?

The current guideline value of Padmavathy Nagar 21st 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.

What is the land classification for Padmavathy Nagar 21st Main Road?

The land classification for Padmavathy Nagar 21st Main Road 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.

How is stamp duty calculated for properties in Padmavathy Nagar 21st Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 33,00,000, with stamp duty at 7% amounting to Rs 2,31,000.