Guideline Value for Padmavathy Nagar 5th Street

Padmavathy Nagar 5th Street guideline value

The current guideline value of Padmavathy Nagar 5th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Residential Special Type - III.

How the guideline value of Padmavathy Nagar 5th Street has changed

The guideline value for Padmavathy Nagar 5th Street has seen revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, while the latest revision in 2024 increased it to Rs 3,300 per sq.ft, marking a change of +10%. The register has no figure for the years 2023, 2017, 2007, 2003, and 2002 for this street.

From the 2012 revision to the current 2024 figure, the increase reflects the ongoing adjustments in property values. The 2024 guideline value of Rs 3,300 per sq.ft is now established, providing a basis for property transactions in the area.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a 2024 guideline value range from Rs 1,100 to Rs 6,000 per sq.ft. The median value is Rs 2,400 per sq.ft, placing Padmavathy Nagar 5th Street above this median.

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

Stamp duty and registration fee for property in Padmavathy Nagar 5th 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 detailed calculations.

Which Sub Registrar Office covers Padmavathy Nagar 5th Street?

The Sub Registrar Office that covers Padmavathy Nagar 5th 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 further inquiries.

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

The guideline value plays a crucial role in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted within the legal framework set by the registration department.

Frequently asked questions

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

The current guideline value of Padmavathy Nagar 5th 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 this street was Rs 3,000 per sq.ft in 2012 and increased to Rs 3,300 per sq.ft in 2024, representing a +10% change. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002.

What is the land classification for Padmavathy Nagar 5th Street?

Padmavathy Nagar 5th Street is classified as Residential Special Type - III, indicating its suitability for residential development.

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. Duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Padmavathy Nagar 5th Street 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 registrations for properties in this area.