Guideline Value for Padmavathy Nagar Extn 12th Street

Padmavathy Nagar Extn 12th Street guideline value

The current guideline value of Padmavathy Nagar Extn 12th 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 12th Street has changed

The guideline value for Padmavathy Nagar Extn 12th Street has undergone 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. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in the 2024 revision, reflecting an overall increase of 10% from 2012 to 2024.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 was 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 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 value of Rs 2,400 per sq.ft. The guideline value for Padmavathy Nagar Extn 12th Street is above this median.

• Padmavathy Nagar Extn 11th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 10th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 13th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extension: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 13th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar-Bhuvaneswari Nagar Joint Roat: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar Extn 12th 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 to Rs 2,97,000. It is important to note that the 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 Extn 12th Street?

The Sub Registrar Office that covers Padmavathy Nagar Extn 12th 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 crucial factor in the registration process when buying or selling property in Madambakkam. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is compliant with local regulations.

When a property is registered, the guideline value serves as a benchmark for assessing the property's worth. This value helps in calculating the financial obligations of the buyer, making it essential to be aware of the current guideline value in the area.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar Extn 12th Street?

The current guideline value of Padmavathy Nagar Extn 12th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much 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 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 of Padmavathy Nagar Extn 12th Street?

Padmavathy Nagar Extn 12th Street is classified as Residential Special Type - III.

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

For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for this area 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.