Guideline Value for Padmavathy Nagar Extn 18th Street

Padmavathy Nagar Extn 18th Street guideline value

The current guideline value of Padmavathy Nagar Extn 18th Street is Rs 2,200 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 - I.

How the guideline value of Padmavathy Nagar Extn 18th Street has changed

The guideline value for Padmavathy Nagar Extn 18th Street has undergone several revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 2,000 per sq.ft. In 2017, the value decreased to Rs 1,340 per sq.ft, marking a decline of 33%. However, the most recent revision in 2024 saw a significant increase to Rs 2,200 per sq.ft, which represents a 64% rise from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2023, 2007, 2003, and 2002 for this street in the register.

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. The median value in this area is Rs 2,400 per sq.ft, which indicates that the guideline value for Padmavathy Nagar Extn 18th Street is below the median.

• Padmavathy Nagar Extn 18th 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 17th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 19th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 17th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar Extn 18th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

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

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

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, preventing undervaluation and ensuring compliance with local regulations. This process is essential for both buyers and sellers to understand their financial obligations during a property transaction.

Frequently asked questions

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

The current guideline value of Padmavathy Nagar Extn 18th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then increased to Rs 2,200 per sq.ft in 2024.

What is the land classification for this area?

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

Where can I find the Sub Registrar Office for Padmavathy Nagar Extn 18th Street?

The Sub Registrar Office for this street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What are the stamp duty and registration fees for a property here?

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000 and the registration fee is Rs 44,000, totaling Rs 1,98,000.