Guideline Value for Padmavathy Nagar Extn 15th Cross Street

Padmavathy Nagar Extn 15th Cross Street guideline value

The current guideline value of Padmavathy Nagar Extn 15th 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 15th Cross Street has changed

The guideline value for Padmavathy Nagar Extn 15th Cross Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, the most recent 2024 revision has increased the guideline value to Rs 3,300 per sq.ft, which is a significant rise of 64% from the 2017 figure.

Overall, when comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 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 of Padmavathy Nagar Extn 15th Cross Street is above this median.

• Padmavathy Nagar Extn 15th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 14th Street: Rs 2,200 per sq.ft (2024)
• Padmavathy Nagar Extn 14th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 16th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 16th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 13th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar Extn 15th 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 be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathy Nagar Extn 15th Cross Street?

The Sub Registrar Office that covers Padmavathy Nagar Extn 15th Cross 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 details.

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

The guideline value is a crucial factor in property transactions in Madambakkam, as it determines the minimum value at which a property can be registered. During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall cost of the transaction. Buyers should be prepared to pay stamp duty based on this value, which is a significant part of the total expenses incurred during the property transfer process.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar Extn 15th Cross Street?

The current guideline value of Padmavathy Nagar Extn 15th 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 increased to Rs 3,300 per sq.ft in 2024. This reflects a 10% overall increase from 2012 to 2024.

What is the land classification for Padmavathy Nagar Extn 15th Cross Street?

Padmavathy Nagar Extn 15th Cross 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 the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.