Guideline Value for Padmavathy Nagar 3rd Main Road

Padmavathy Nagar 3rd Main Road guideline value

The current guideline value of Padmavathy Nagar 3rd Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Madambakkam village under the Selaiyur SRO, classified as Residential Special Type - III.

How the guideline value of Padmavathy Nagar 3rd Main Road has changed

The guideline value for Padmavathy Nagar 3rd Main Road has seen several revisions over the years. In the 2012 revision, the guideline value was set at Rs 3,000 per sq.ft. The most recent 2024 revision increased this figure to Rs 3,300 per sq.ft, marking a 10% increase from the previous value.

There are no recorded guideline values for this street in the years 2003, 2007, 2017, and 2023, indicating that the register has no figure for this street in those years. The only revisions that include a figure are from 2012 and 2024.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that have 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 3rd Main Road is above this median.

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

Stamp duty and registration fee for property in Padmavathy Nagar 3rd 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 would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Padmavathy Nagar 3rd Main Road?

The Sub Registrar Office that covers Padmavathy Nagar 3rd 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 serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on the official valuation of the property.

When buying or selling property, the guideline value helps both parties understand the minimum value of the property for legal and financial purposes. It is essential to be aware of the current guideline value to ensure compliance with local regulations during the transaction.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 3rd Main Road?

The current guideline value of Padmavathy Nagar 3rd 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, which is a 10% increase. There are no figures available for the years 2003, 2007, 2017, and 2023.

What are the other streets in Madambakkam with the same guideline value?

Other streets in Madambakkam with a guideline value of Rs 3,300 per sq.ft include Padmavathy Nagar 3rd Cross Street, Padmavathy Nagar 3rd Street, Padmavathy Nagar 4th Cross Street, Padmavathy Nagar 2nd Street, Padmavathy Nagar 2nd Main Road, and Padmavathy Nagar 4th Main Road.

What is the stamp duty rate for properties in Padmavathy Nagar 3rd Main Road?

The stamp duty rate for properties in Padmavathy Nagar 3rd Main Road is 7% of the guideline value or the sale price, whichever is higher. This is calculated along with a registration fee of 2%.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. You can find more information by visiting the relevant link.