Guideline Value for Padmavathy Nagar Extn 14th Cross Street

Padmavathy Nagar Extn 14th Cross Street guideline value

The current guideline value of Padmavathy Nagar Extn 14th Cross 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 14th Cross Street has changed

The guideline value for Padmavathy Nagar Extn 14th Cross 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, the most recent 2024 revision increased the value back to Rs 3,300 per sq.ft, reflecting a 64% increase from 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2023 for this street. This lack of data means that the changes in guideline value from those years cannot be assessed.

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 14th Cross Street's 2024 figure above that median.

• Padmavathy Nagar Extn 14th Street: Rs 2,200 per sq.ft (2024)
• Padmavathy Nagar Extn 13th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 13th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 15th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 15th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 12th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar Extn 14th 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 would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost would be Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padmavathy Nagar Extn 14th Cross Street?

The Padmavathy Nagar Extn 14th Cross Street is covered by 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 during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it directly influences the costs incurred during the registration process. Buyers should ensure that the sale price is in line with or exceeds the guideline value to avoid any complications during registration.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar Extn 14th Cross Street?

The current guideline value of Padmavathy Nagar Extn 14th 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 2012 to Rs 2,010 per sq.ft in 2017, and then to Rs 3,300 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024 and a 10% increase overall from 2012 to 2024.

What are the guideline values for other streets in Madambakkam?

Other streets in Madambakkam have varying guideline values. For example, Padmavathy Nagar Extn 14th Street has a guideline value of Rs 2,200 per sq.ft, while several other streets have a value of Rs 3,300 per sq.ft in 2024.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions is 7% of the guideline value or sale price, whichever is higher. This is an important cost to consider when registering a property.

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. This office handles the registration of properties in the area.