Guideline Value for Padmavathy Nagar 21st Street

Padmavathy Nagar 21st Street guideline value

The current guideline value of Padmavathy Nagar 21st 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 21st Street has changed

The guideline value for Padmavathy Nagar 21st Street has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, a significant increase from Rs 2,010 per sq.ft in the 2017 revision. This represents a 64% increase over the seven-year period.

Prior to the 2017 revision, the guideline value was Rs 3,000 per sq.ft in 2012, indicating a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2023, 2007, 2003, and 2002 for this 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, with a median value of Rs 2,400 per sq.ft. The guideline value for Padmavathy Nagar 21st Street is above this median.

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

Stamp duty and registration fee for property in Padmavathy Nagar 21st Street

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, making the total fees Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathy Nagar 21st Street?

The Sub Registrar Office that covers Padmavathy Nagar 21st 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 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 transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. This ensures transparency and compliance with local regulations during the registration process.

Frequently asked questions

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

The current guideline value of Padmavathy Nagar 21st 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 now to Rs 3,300 per sq.ft in 2024, reflecting a 64% increase since 2017.

What is the land classification for Padmavathy Nagar 21st Street?

Padmavathy Nagar 21st Street is classified as Residential Special Type - III.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value or sale price.

Where is the Sub Registrar Office located for Padmavathy Nagar 21st Street?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.