Guideline Value for Padmavathy Nagar 2nd Main Road

Padmavathy Nagar 2nd Main Road guideline value

The current guideline value of Padmavathy Nagar 2nd 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, with a land classification of Residential Special Type - III.

How the guideline value of Padmavathy Nagar 2nd Main Road has changed

The guideline value for Padmavathy Nagar 2nd Main Road has seen several revisions over the years. The oldest recorded revision is from 2002, 2003, 2007, and 2017, for which the register has no figure for this street. The next available figure is from the 2012 revision, which set the guideline value at Rs 3,000 per sq.ft. This was followed by the most recent 2024 revision, which increased the value to Rs 3,300 per sq.ft, marking a 10% increase from the 2012 figure.

From 2012 to 2024, the guideline value increased from Rs 3,000 to Rs 3,300 per sq.ft. This change reflects the adjustments made in the guideline values over the years, with the latest revision being the most significant in terms of percentage increase.

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 2nd Main Road is above this median.

• Padmavathy Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 26th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 26th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 3rd Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar 2nd 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. 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 2nd Main Road?

The Sub Registrar Office that covers Padmavathy Nagar 2nd 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 crucial factor during property registration in Madambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for both parties. It helps in establishing a fair price for the transaction, as the registration process requires adherence to these values to avoid discrepancies.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 2nd Main Road?

The current guideline value of Padmavathy Nagar 2nd 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 2002, 2003, 2007, and 2017.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft. The guideline value of Padmavathy Nagar 2nd Main Road is above this median.

What are the stamp duty and registration fees for properties 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. The duty is charged on the higher of the guideline value or the sale price.

Which office handles property registrations for Padmavathy Nagar 2nd Main Road?

The Selaiyur Sub Registrar Office handles property registrations for Padmavathy Nagar 2nd Main Road, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.