Guideline Value for Padmavathy Nagar 5th Main Road

Padmavathy Nagar 5th Main Road guideline value

The current guideline value of Padmavathy Nagar 5th 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, and is classified as Residential Special Type - III.

How the guideline value of Padmavathy Nagar 5th Main Road has changed

The guideline value for Padmavathy Nagar 5th Main Road has undergone several revisions over the years. The earliest available figure is from 2012, when the guideline value was Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in 2017. The value then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1151 streets under the Selaiyur SRO, with guideline values 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 the 2024 figure for Padmavathy Nagar 5th Main Road above that median.

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

Stamp duty and registration fee for property in Padmavathy Nagar 5th 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 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 further assistance.

Which Sub Registrar Office covers Padmavathy Nagar 5th Main Road?

The Sub Registrar Office covering Padmavathy Nagar 5th 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 in the registration process of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, making it essential for both buyers and sellers to be aware of the current guideline value.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 5th Main Road?

The current guideline value of Padmavathy Nagar 5th 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 has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Padmavathy Nagar 5th Main Road?

Padmavathy Nagar 5th Main Road is classified as Residential Special Type - III.

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.

Which office handles property registrations for Padmavathy Nagar 5th Main Road?

The Selaiyur Sub Registrar Office handles property registrations for Padmavathy Nagar 5th Main Road, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.