Guideline Value for Padmavathy Nagar 3rd Street

Padmavathy Nagar 3rd Street guideline value

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

The guideline value for Padmavathy Nagar 3rd Street has seen a revision 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, 2017, and 2023 in the register for this street.

In summary, the only revisions recorded for Padmavathy Nagar 3rd Street are from 2012 to 2024, with the current value reflecting the latest update. The absence of figures for other years indicates stability in the guideline value during those periods.

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 3rd Street is above this median.

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

Stamp duty and registration fee for property in Padmavathy Nagar 3rd 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 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.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Padmavathy Nagar 3rd Street?

The Sub Registrar Office that covers Padmavathy Nagar 3rd 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 is a critical factor in the registration process for property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property.

When you register a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the registration fees reflect the true value of the property being transferred.

Frequently asked questions

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

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

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

Padmavathy Nagar 3rd Street is classified as Residential Special Type - III. This classification can affect the guideline value and the type of development permitted in the area.

What are the stamp duty rates for property in this area?

The stamp duty rate for property transactions in this area is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2% applicable.

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 also find more information through the provided links.