Guideline Value for Padmavathy Nagar 7th Street

Padmavathy Nagar 7th Street guideline value

The current guideline value of Padmavathy Nagar 7th 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 7th Street has changed

The guideline value for Padmavathy Nagar 7th Street has seen several revisions over the years. The earliest recorded revision was in 2012, with a guideline value of Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in 2017. The most recent revision in 2024 has increased the value to Rs 3,300 per sq.ft.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2024, there was a significant increase of 64%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. 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 of Rs 2,400 per sq.ft. Padmavathy Nagar 7th Street's guideline value is above this median.

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

Stamp duty and registration fee for property in Padmavathy Nagar 7th 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, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. Duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padmavathy Nagar 7th Street?

The Sub Registrar Office that covers Padmavathy Nagar 7th 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 here.

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

The guideline value is an important factor in property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and fairly according to government standards.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that both the buyer and seller are aware of the financial implications of the transaction as per the latest regulations.

Frequently asked questions

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

The current guideline value of Padmavathy Nagar 7th 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 increased to Rs 3,300 per sq.ft in 2024. This represents a decrease of 33% from 2012 to 2017 and an increase of 64% from 2017 to 2024.

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

Padmavathy Nagar 7th Street is classified as Residential Special Type - III, which indicates its suitability for residential development.

Where can I find the Selaiyur Sub Registrar Office?

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 for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 2,97,000 in fees.