Guideline Value for Padmavathy Nagar Extn 26th Street

Padmavathy Nagar Extn 26th Street guideline value

The current guideline value of Padmavathy Nagar Extn 26th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Padmavathy Nagar Extn 26th Street has changed

The guideline value for Padmavathy Nagar Extn 26th Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

In summary, the guideline values have changed as follows: from Rs 2,010 per sq.ft in 2017 to Rs 3,000 per sq.ft in 2023, which is a 49% increase. The value then increased by 10% to Rs 3,300 per sq.ft in 2024. It is important to note that there are no available figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1151 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. Padmavathy Nagar Extn 26th Street's current guideline value is above this median.

• Padmavathy Nagar Extn 26th-Madampakkam Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 2nd Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 25th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 3rd Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 25th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 4th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar Extn 26th 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 the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathy Nagar Extn 26th Street?

The Sub Registrar Office that covers Padmavathy Nagar Extn 26th 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 plays a crucial role in the registration process when buying or selling property in Madambakkam. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating these fees.

When registering a property, it is essential to refer to the latest guideline value to ensure compliance with the legal requirements. This ensures that all parties involved are aware of the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar Extn 26th Street?

The current guideline value of Padmavathy Nagar Extn 26th 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, then back 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 Extn 26th Street?

The land classification for Padmavathy Nagar Extn 26th Street is Residential Special Type - III.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers this street?

The Selaiyur Sub Registrar Office covers Padmavathy Nagar Extn 26th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.