Guideline Value for Padmavathy Nagar 5th Cross Street

Padmavathy Nagar 5th Cross Street guideline value

The current guideline value of Padmavathy Nagar 5th 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 5th Cross Street has changed

The guideline value for Padmavathy Nagar 5th Cross Street has undergone several revisions over the years. The oldest recorded revision is from 2012, where the guideline value 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 10% increase from the 2012 figure.

There are no recorded figures for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street. Thus, the only figures available are from 2012 and 2024, highlighting the increase in the guideline value over this period.

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 guideline value in this area is Rs 2,400 per sq.ft, placing Padmavathy Nagar 5th Cross Street above that median.

• Padmavathy Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 4th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 5th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 6th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar 5th 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 would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Padmavathy Nagar 5th Cross Street?

The Sub Registrar Office covering Padmavathy Nagar 5th 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, within the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor when registering property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property sale.

When buying or selling a property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and financial documentation. It is important for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 5th Cross Street?

The current guideline value of Padmavathy Nagar 5th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

From the 2012 revision to the 2024 revision, the guideline value increased from Rs 3,000 per sq.ft to Rs 3,300 per sq.ft, which is a 10% increase. There are no recorded figures for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street.

What is the land classification of Padmavathy Nagar 5th Cross Street?

Padmavathy Nagar 5th Cross Street is classified as Residential Special Type - III. This classification is important for understanding the purpose and potential use of the land.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft. Padmavathy Nagar 5th Cross Street's current guideline value is above this median.

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. This office handles the registration of properties in the area.