Guideline Value for Padmavathy Nagar Extn 17th Cross Street

Padmavathy Nagar Extn 17th Cross Street guideline value

The current guideline value of Padmavathy Nagar Extn 17th 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 17th Cross Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the latest 2024 revision, the guideline value increased significantly to Rs 3,300 per sq.ft, reflecting a rise of 64%. Overall, from 2012 to 2024, there has been a modest increase of 10% in the guideline value.

The register has no figures for the years 2002, 2003, 2007, and 2023 for this street. Therefore, the only revisions available are from 2012, 2017, and 2024.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that have 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 17th Cross Street is above this median.

• Padmavathy Nagar Extn 17th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 16th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 16th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 18th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 18th Street: Rs 2,200 per sq.ft (2024)
• Padmavathy Nagar Extn 15th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar Extn 17th 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 is 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. Please note that 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 details.

Which Sub Registrar Office covers Padmavathy Nagar Extn 17th Cross Street?

The Sub Registrar Office that covers Padmavathy Nagar Extn 17th 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, within 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 when registering property transactions in Madambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that transactions reflect a fair value based on government assessments.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications of the transaction, based on the established rates for the area.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar Extn 17th Cross Street?

The current guideline value of Padmavathy Nagar Extn 17th 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 64% increase from 2017 to 2024 and an overall increase of 10% from 2012 to 2024.

What is the land classification for this street?

The land classification for Padmavathy Nagar Extn 17th Cross Street is 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. Duty is charged on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Padmavathy Nagar Extn 17th Cross Street is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. You can find more details through the provided link.