Guideline Value for Padmavathy Nagar 25th Main Road

Padmavathy Nagar 25th Main Road guideline value

The current guideline value of Padmavathy Nagar 25th Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Padmavathy Nagar 25th Main Road has changed

The guideline value has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as per the 2024 revision. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, while the value increased by 49% from 2017 to 2023. The change from 2023 to 2024 is an increase of 10%. 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 that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for the village is Rs 2,400 per sq.ft, placing Padmavathy Nagar 25th Main Road above this median.

• Padmavathy Nagar 25th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 25th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 24th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 26th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 24th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 26th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar 25th 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 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. It is important to 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 details.

Which Sub Registrar Office covers Padmavathy Nagar 25th Main Road?

The Sub Registrar Office that covers Padmavathy Nagar 25th 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 a critical factor when registering property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which properties can be sold or purchased, ensuring that the government receives appropriate stamp duty and registration fees.

When buyers or sellers engage in property transactions, the guideline value helps in assessing the financial implications of the sale. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 25th Main Road?

The current guideline value of Padmavathy Nagar 25th 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 seen various changes, with the most recent increase of 10% from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft, which is below the current value of Padmavathy Nagar 25th Main Road.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Padmavathy Nagar 25th Main Road?

The Selaiyur Sub Registrar Office handles registrations for Padmavathy Nagar 25th Main Road, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.