Guideline Value for Padmavathy Nagar 3rd Cross Street

Padmavathy Nagar 3rd Cross Street guideline value

The current guideline value of Padmavathy Nagar 3rd 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 3rd Cross Street has changed

The guideline value for Padmavathy Nagar 3rd Cross Street has undergone revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft. The most recent revision in 2024 increased this figure to Rs 3,300 per sq.ft, marking a change of +10% from the 2012 rate.

There are several years where the register has no figure for this street, including 2023, 2017, 2007, 2003, 2002. Therefore, the only available figures are from the 2012 and 2024 revisions.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a guideline value for 2024 ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value is Rs 2,400 per sq.ft, placing Padmavathy Nagar 3rd Cross Street above this median.

• Padmavathy Nagar 3rd Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar 3rd Cross 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, resulting in a total of 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 details.

Which Sub Registrar Office covers Padmavathy Nagar 3rd Cross Street?

The Sub Registrar Office covering Padmavathy Nagar 3rd 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 online.

How the guideline value is used when you buy or sell in Madambakkam

The guideline value plays a crucial role in property transactions in Madambakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the transaction is conducted transparently and in accordance with government regulations.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 3rd Cross Street?

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

What is the land classification for Padmavathy Nagar 3rd Cross Street?

Padmavathy Nagar 3rd Cross Street is classified as Residential Special Type - III. This classification is important for understanding the type of development allowed in the area.

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. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for this street located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office handles the registration of properties in the area.