Guideline Value for Padmavathy Nagar Extn 10th Street

Padmavathy Nagar Extn 10th Street guideline value

The current guideline value of Padmavathy Nagar Extn 10th 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 Extn 10th Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure remained unchanged in the 2017 revision, where it dropped to Rs 2,010 per sq.ft, reflecting a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, marking a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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. The median guideline value for these streets is Rs 2,400 per sq.ft, placing Padmavathy Nagar Extn 10th Street's 2024 value above this median.

• Padmavathy Nagar Extension: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 11th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar-Bhuvaneswari Nagar Joint Roat: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 12th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 9th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 9th Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar Extn 10th 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, charged at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Padmavathy Nagar Extn 10th Street?

The Sub Registrar Office that covers Padmavathy Nagar Extn 10th 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 a critical factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees that must be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements and to avoid any potential issues during the registration process.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar Extn 10th Street?

The current guideline value of Padmavathy Nagar Extn 10th 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 seen several revisions: it was Rs 3,000 per sq.ft in 2012, dropped to Rs 2,010 per sq.ft in 2017, rose to Rs 3,000 per sq.ft in 2023, and is now Rs 3,300 per sq.ft in 2024.

What is the land classification for this street?

Padmavathy Nagar Extn 10th Street is classified as Residential Special Type - III.

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.

How is stamp duty calculated for properties in Padmavathy Nagar Extn 10th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at a rate of 7%.