Guideline Value for Padmavathy Nagar 25th Cross Street

Padmavathy Nagar 25th Cross Street guideline value

The current guideline value of Padmavathy Nagar 25th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - III.

How the guideline value of Padmavathy Nagar 25th Cross Street has changed

The guideline value for Padmavathy Nagar 25th Cross Street has undergone several revisions over the years. The earliest recorded value is from 2012, which was Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in 2017, representing a decline of 33%. In the 2023 revision, the value increased to Rs 3,000 per sq.ft, and in the latest 2024 revision, it rose further to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 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 of Padmavathy Nagar 25th Cross Street is above this median.

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

Stamp duty and registration fee for property in Padmavathy Nagar 25th Cross Street

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, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Padmavathy Nagar 25th Cross Street?

The Sub Registrar Office covering Padmavathy Nagar 25th Cross 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 during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value must be considered, as it can influence the overall cost of the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can affect the total expenses involved in the purchase.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 25th Cross Street?

The current guideline value of Padmavathy Nagar 25th Cross 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, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Padmavathy Nagar 25th Cross Street?

Padmavathy Nagar 25th Cross Street is classified as Residential Special Type - III.

Where can I find the registration office for this area?

The registration office for Padmavathy Nagar 25th Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% applies to the guideline value.