Guideline Value for Padmavathy Nagar 9th Street

Padmavathy Nagar 9th Street guideline value

The current guideline value of Padmavathy Nagar 9th 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 9th Street has changed

The guideline value for Padmavathy Nagar 9th Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, an increase of 10% from the 2023 revision of Rs 3,000 per sq.ft. Prior to that, in 2017, the value was Rs 2,010 per sq.ft, marking a significant increase of 49% to the 2023 figure. The 2012 revision also recorded a value of Rs 3,000 per sq.ft, which was a decrease of 33% from the 2017 figure.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 for Padmavathy Nagar 9th Street is above this median.

• Padmavathy Nagar 9th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar-Bhuvaneswari Nagar Joint Roat: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extension: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 9th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 10th 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 9th 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 cost for these fees to Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padmavathy Nagar 9th Street?

The Padmavathy Nagar 9th Street falls under 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. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value according to the local regulations.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the current market conditions.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar 9th Street?

The current guideline value of Padmavathy Nagar 9th 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 significantly, with the most recent revision in 2024 showing an increase of 10% from the 2023 figure of Rs 3,000 per sq.ft. The value was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What are the other streets in Madambakkam with the same guideline value?

Several other streets in Madambakkam have the same guideline value of Rs 3,300 per sq.ft as Padmavathy Nagar 9th Street, including Padmavathy Nagar 9th Main Road, Padmavathy Nagar-Bhuvaneswari Nagar Joint Roat, and others.

What is the registration fee for properties in Padmavathy Nagar 9th Street?

The registration fee for properties in Padmavathy Nagar 9th Street is calculated based on the guideline value. For example, for a property valued at Rs 33,00,000, the registration fee would be Rs 66,000 at a rate of 2%.

Where can I find the Sub Registrar Office for Padmavathy Nagar 9th Street?

The Sub Registrar Office covering Padmavathy Nagar 9th Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.