Guideline Value for Padmavathy Nagar 2nd Street

Padmavathy Nagar 2nd Street guideline value

The current guideline value of Padmavathy Nagar 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Padmavathy Nagar 2nd Street has changed

According to the revisions recorded in the guideline value register, the earliest available figure for Padmavathy Nagar 2nd Street is from the 2012 revision, which was Rs 3,000 per sq.ft. The most recent revision in 2024 shows an increase to Rs 3,300 per sq.ft, marking a change of +10% from the 2012 figure.

There are no figures available for the years 2023, 2017, 2007, 2003, and 2002 for this street. Therefore, the only revisions with recorded figures are from 2012 and 2024.

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 for Padmavathy Nagar 2nd Street is above this median.

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

Stamp duty and registration fee for property in Padmavathy Nagar 2nd 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, together 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padmavathy Nagar 2nd Street?

The Sub Registrar Office that covers Padmavathy Nagar 2nd 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, within 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 reference point during the registration of property transactions in Madambakkam. It is used to determine the stamp duty and registration fees, ensuring that these costs are calculated based on the established rates for the area.

When buying or selling property, the guideline value helps in establishing a fair basis for the transaction. It is essential for buyers and sellers to be aware of the current guideline value to understand the financial implications of their property dealings.

Frequently asked questions

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

The current guideline value of Padmavathy Nagar 2nd 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 for Padmavathy Nagar 2nd Street was Rs 3,000 per sq.ft in 2012, which increased to Rs 3,300 per sq.ft in 2024, reflecting a change of +10%. There are no available figures for the years 2023, 2017, 2007, 2003, and 2002.

What is the land classification for Padmavathy Nagar 2nd Street?

The land classification for Padmavathy Nagar 2nd Street is Residential Special Type - III, indicating its designated use for residential purposes.

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.

Where can I find the Sub Registrar Office for Padmavathy Nagar 2nd Street?

The Sub Registrar Office for Padmavathy Nagar 2nd Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office is part of the Chengalpattu registration zone.