Guideline Value for Padmavathy Nagar 6th Cross Street

Padmavathy Nagar 6th Cross Street guideline value

The current guideline value of Padmavathy Nagar 6th 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, classified as Residential Special Type - III.

How the guideline value of Padmavathy Nagar 6th Cross Street has changed

The guideline value for Padmavathy Nagar 6th Cross Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 3,000 per sq.ft. The most recent revision in 2024 saw an increase of 10%, bringing the value to Rs 3,300 per sq.ft.

There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023 for this street. The 2012 to 2024 change reflects a significant adjustment in the guideline value.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a guideline value for 2024 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, positioning Padmavathy Nagar 6th Cross Street above the median value.

• Padmavathy Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 5th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 6th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 5th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 7th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar 6th 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 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. Note that 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 calculations.

Which Sub Registrar Office covers Padmavathy Nagar 6th Cross Street?

The Sub Registrar Office that covers Padmavathy Nagar 6th 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, under 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 during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government collects appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. It is important for both buyers and sellers to be aware of these values to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 6th Cross Street?

The current guideline value of Padmavathy Nagar 6th Cross 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 changed 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 recorded figures for the years 2003, 2007, 2017, and 2023.

What is the land classification for Padmavathy Nagar 6th Cross Street?

Padmavathy Nagar 6th Cross Street is classified as Residential Special Type - III. This classification is important for determining the guideline value and applicable regulations.

Where can I find the Sub Registrar Office for this area?

The Selaiyur Sub Registrar Office covers Padmavathy Nagar 6th Cross Street. It is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in this area?

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