Guideline Value for Padmavathy Nagar 7th Cross Street

Padmavathy Nagar 7th Cross Street guideline value

The current guideline value of Padmavathy Nagar 7th 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, with a land classification of Residential Special Type - III.

How the guideline value of Padmavathy Nagar 7th Cross Street has changed

The guideline value for Padmavathy Nagar 7th Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. This marked a decline of 33%. However, the most recent revision in 2024 increased the guideline value to Rs 3,300 per sq.ft, representing a significant increase of 64% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, the guideline value has seen a modest increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

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, with a median value of Rs 2,400 per sq.ft. The guideline value of Padmavathy Nagar 7th Cross Street is above this median.

• Padmavathy Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 6th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 7th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 6th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 8th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar 7th 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 cost to Rs 2,97,000. It is important to 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 detailed calculations.

Which Sub Registrar Office covers Padmavathy Nagar 7th Cross Street?

The Sub Registrar Office that covers Padmavathy Nagar 7th 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, 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 an essential factor in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the registration office uses the guideline value to calculate the applicable fees, ensuring that the transaction is recorded accurately. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 7th Cross Street?

The current guideline value of Padmavathy Nagar 7th 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 has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, and then to Rs 3,300 per sq.ft in 2024. This reflects a decline from 2012 to 2017 and a significant increase from 2017 to 2024.

What is the land classification for Padmavathy Nagar 7th Cross Street?

The land classification for Padmavathy Nagar 7th Cross Street is Residential Special Type - III, indicating its designation 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.

What are the stamp duty and registration fees based on the guideline value?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.