Guideline Value for Padmavathy Nagar Extn 13th Cross Street

Padmavathy Nagar Extn 13th Cross Street guideline value

The current guideline value of Padmavathy Nagar Extn 13th Cross 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 13th Cross Street has changed

The guideline value for Padmavathy Nagar Extn 13th Cross Street has seen several revisions over the years. The 2024 revision set the value at Rs 3,300 per sq.ft, an increase from Rs 3,000 per sq.ft in 2023, marking a change of +10%. Prior to that, in 2017, the value was Rs 2,010 per sq.ft, which indicates a significant rise of +49% from the 2017 figure to 2023. The 2012 revision also recorded a value of Rs 3,000 per sq.ft, showing a decrease of -33% when compared to the 2017 value. Overall, from 2012 to 2024, the guideline value has increased by +10%.

The register does not contain figures for the years 2002, 2003, and 2007 for this street. Therefore, the first recorded value was in 2012, followed by subsequent revisions in 2017, 2023, and the latest in 2024.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that have a guideline value for 2024, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Padmavathy Nagar Extn 13th Cross Street above this median.

• Padmavathy Nagar Extn 13th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 12th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 11th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 14th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 10th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 14th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar Extn 13th Cross 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 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathy Nagar Extn 13th Cross Street?

The Padmavathy Nagar Extn 13th Cross 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, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the government. It is essential for buyers to be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar Extn 13th Cross Street?

The current guideline value of Padmavathy Nagar Extn 13th Cross 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 2023 to Rs 3,300 per sq.ft in 2024, a +10% increase. It was Rs 2,010 per sq.ft in 2017, showing a +49% increase to 2023.

What is the land classification of this street?

Padmavathy Nagar Extn 13th Cross Street is classified as Residential Special Type - III.

What are the stamp duty and registration fees for this property?

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

Which office handles the registration for this area?

The Selaiyur Sub Registrar Office handles registrations for Padmavathy Nagar Extn 13th Cross Street, located at No.36, Bharathmatha Salai, Chennai - 600 073.