Guideline Value for Padmavathy Nagar 24th Main Road

Padmavathy Nagar 24th Main Road guideline value

The current guideline value of Padmavathy Nagar 24th 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, classified as Residential Special Type - III.

How the guideline value of Padmavathy Nagar 24th Main Road has changed

The guideline value for Padmavathy Nagar 24th Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 3,000 per sq.ft. In 2024, the value increased by 10% to Rs 3,300 per sq.ft.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this village is Rs 2,400 per sq.ft, making the current value of Padmavathy Nagar 24th Main Road above the median.

• Padmavathy Nagar 24th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 24th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 25th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 23th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 23rd Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 25th Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar 24th Main Road

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling Rs 2,97,000. Please note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Padmavathy Nagar 24th Main Road?

The Sub Registrar Office covering Padmavathy Nagar 24th 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 during the registration of 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 affects the calculation of stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 24th Main Road?

The current guideline value of Padmavathy Nagar 24th 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 remained at Rs 3,000 per sq.ft from 2012 to 2023, before increasing by 10% to Rs 3,300 per sq.ft in 2024. There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street.

What is the land classification for this area?

Padmavathy Nagar 24th Main Road is classified as Residential Special Type - III. This classification impacts the guideline value and property usage in the area.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Tamil Nadu is generally set at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

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. It serves the Chengalpattu registration zone.