Guideline Value for Padmavathy Nagar 4th Street

Padmavathy Nagar 4th Street guideline value

The current guideline value of Padmavathy Nagar 4th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Padmavathy Nagar 4th Street has changed

The guideline value for Padmavathy Nagar 4th Street has seen several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 3,000 per sq.ft. Following this, the 2024 revision set the value at Rs 3,300 per sq.ft, marking a 10% increase from the previous figure.

There are no recorded guideline values for Padmavathy Nagar 4th Street in the revisions from 2002, 2003, 2007, 2017, and 2023. Therefore, the only figures available 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. The median value for these streets is Rs 2,400 per sq.ft, indicating that Padmavathy Nagar 4th Street's 2024 figure is above the median.

• Padmavathy Nagar 4th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 5th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 5th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 5th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar 4th Street

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. 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 4th Street?

The Sub Registrar Office that covers Padmavathy Nagar 4th 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 plays a crucial role in property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property. This ensures that the government receives the appropriate taxes based on the property's assessed value.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This system helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 4th Street?

The current guideline value of Padmavathy Nagar 4th 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 4th Street was Rs 3,000 per sq.ft in 2012 and increased to Rs 3,300 per sq.ft in 2024, representing a 10% increase. There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023.

What is the land classification for Padmavathy Nagar 4th Street?

The land classification for Padmavathy Nagar 4th Street is Residential Special Type - III, indicating its intended use for residential purposes.

Where is the Selaiyur Sub Registrar Office 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.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if a property has a guideline value of Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.