Guideline Value for Padmavathy Nagar 9th Main Road

Padmavathy Nagar 9th Main Road guideline value

The current guideline value for Padmavathy Nagar 9th 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, classified as Residential Special Type - III.

How the guideline value of Padmavathy Nagar 9th Main Road has changed

The guideline value for Padmavathy Nagar 9th Main Road has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in 2017. The 2023 revision increased the value to Rs 3,000 per sq.ft, and the latest revision in 2024 has set it at Rs 3,300 per sq.ft.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 shows a modest increase of 10%. The change from 2023 to 2024 represents a 10% rise in the guideline value.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value in this area is Rs 2,400 per sq.ft, making the current value of Padmavathy Nagar 9th Main Road above this median.

• Padmavathy Nagar 9th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 9th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar-Bhuvaneswari Nagar Joint Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extension: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 8th Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar 9th Main Road

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padmavathy Nagar 9th Main Road?

The Sub Registrar Office that covers Padmavathy Nagar 9th 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, 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 critical factor in the registration process of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs associated with the transaction. Buyers and sellers must 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 9th Main Road?

The current guideline value of Padmavathy Nagar 9th 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 for Padmavathy Nagar 9th Main Road?

Padmavathy Nagar 9th Main Road is classified as Residential Special Type - III.

What are the stamp duty and registration fees for properties here?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft plot at Rs 3,300 per sq.ft would incur a total of Rs 2,97,000 in fees.

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.