Guideline Value for Padmavathy Nagar 25th Street

Padmavathy Nagar 25th Street guideline value

The current guideline value of Padmavathy Nagar 25th 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 Street has changed

The guideline value for Padmavathy Nagar 25th Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 3,000 per sq.ft. This value remained the same until the next revision in 2017, which saw a decrease to Rs 2,010 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 3,000 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for Padmavathy Nagar 25th 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 that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, positioning Padmavathy Nagar 25th Street above this median.

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

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

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, bringing the total fees to 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. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathy Nagar 25th Street?

The Sub Registrar Office that covers Padmavathy Nagar 25th 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 plays a crucial role in the registration process of property transactions in Madambakkam. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately and legally.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations during the registration process. Ensuring compliance with the guideline value helps in avoiding any legal issues that may arise from undervaluation or overvaluation of the property.

Frequently asked questions

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

The current guideline value of Padmavathy Nagar 25th 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 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017, showing a 49% increase from that year to 2023.

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

Padmavathy Nagar 25th Street is classified as Residential Special Type - III, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Padmavathy Nagar 25th Street?

The Sub Registrar Office for Padmavathy Nagar 25th 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 Madambakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a property with a guideline value of Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.