Guideline Value for Padmavathy Nagar 22nd main Road

Padmavathy Nagar 22nd main Road guideline value

The current guideline value of Padmavathy Nagar 22nd 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. The land classification for this area is Residential Special Type - III.

How the guideline value of Padmavathy Nagar 22nd main Road has changed

The guideline value has seen a change from the 2012 revision, which was Rs 3,000 per sq.ft. The increase from 2012 to 2024 is 10%, bringing the current value to Rs 3,300 per sq.ft. For the years 2023, 2017, 2007, 2003, and 2002, the register has no figure for this street.

Thus, the only revisions that provide figures are from 2012 and 2024, with the notable increase occurring in the latest revision. The 2024 figure of Rs 3,300 per sq.ft positions this street above the median guideline value in Madambakkam.

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. Padmavathy Nagar 22nd main Road's current guideline value is above this median.

• Padmavathy Nagar 22nd Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 21th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 22th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 21st Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 21st Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 23rd Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar 22nd 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 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, making the total cost for these fees 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 detailed calculations.

Which Sub Registrar Office covers Padmavathy Nagar 22nd main Road?

The Sub Registrar Office that covers Padmavathy Nagar 22nd 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 essential factor when buying or selling property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware of the current guideline value to ensure compliance with the legal requirements.

When a property is registered, the guideline value is used to calculate the applicable fees. This ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 22nd main Road?

The current guideline value of Padmavathy Nagar 22nd 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 increased from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002.

What is the land classification for Padmavathy Nagar 22nd main Road?

The land classification for Padmavathy Nagar 22nd main Road is Residential Special Type - III. This classification affects the guideline value and property usage in the area.

How is stamp duty calculated for properties in Padmavathy Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 2,31,000.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Padmavathy Nagar 22nd main Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073. You can find more details online.