Guideline Value for Padmavathy Nagar Extn 18th Cross Street

Padmavathy Nagar Extn 18th Cross Street guideline value

The current guideline value of Padmavathy Nagar Extn 18th 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 18th Cross Street has changed

The guideline value for Padmavathy Nagar Extn 18th Cross Street has seen several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then rose again to the current value of Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year. 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, and 2007 for this street. The changes between the revisions indicate a 49% increase from 2017 to 2023, and a 33% decrease from 2012 to 2017.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a 2024 guideline value range 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 the 2024 value of Padmavathy Nagar Extn 18th Cross Street above this median.

• Padmavathy Nagar Extn 18th Street: Rs 2,200 per sq.ft (2024)
• Padmavathy Nagar Extn 17th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 17th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 19th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 19th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 16th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar Extn 18th 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, and the registration fee at 2% would be Rs 66,000, bringing the total fees together 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.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padmavathy Nagar Extn 18th Cross Street?

The Sub Registrar Office that covers Padmavathy Nagar Extn 18th 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 information.

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. When buying or selling property, the guideline value determines the minimum value at which the property can be registered. This ensures that the property is sold at a value that is recognized by the government.

Additionally, the stamp duty and registration fees are calculated based on the guideline value, which means that understanding this value is essential for both buyers and sellers. Proper knowledge of the guideline value helps in estimating the costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar Extn 18th Cross Street?

The current guideline value of Padmavathy Nagar Extn 18th 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, 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 for this street?

The land classification for Padmavathy Nagar Extn 18th Cross Street is Residential Special Type - III.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000. Duty is charged on the higher of the guideline value or the sale price.

Which office handles the registration for this street?

The Selaiyur Sub Registrar Office handles the registration for Padmavathy Nagar Extn 18th Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.