Guideline Value for Padmavathy Nagar Extn 20th Street

Padmavathy Nagar Extn 20th Street guideline value

The current guideline value of Padmavathy Nagar Extn 20th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Padmavathy Nagar Extn 20th Street has changed

The guideline value for Padmavathy Nagar Extn 20th Street has seen several revisions over the years. In 2012, the guideline value was Rs 3,000 per sq.ft. This decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, the most recent revision in 2024 has increased the guideline value to Rs 3,300 per sq.ft, reflecting a significant rise of 64% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, there has been a slight increase of 10% in the guideline value. It is important to note that there are no figures available for the revisions in 2023, 2007, 2003, and 2002 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. The median guideline value for these streets is Rs 2,400 per sq.ft, placing Padmavathy Nagar Extn 20th Street above this median.

• Padmavathy Nagar Extn 20th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 21st Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 1st Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 21st Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 19th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 19th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar Extn 20th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to 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. 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 20th Street?

The Sub Registrar Office covering Padmavathy Nagar Extn 20th Street is the Selaiyur Sub Registrar Office. The address is 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 when buying or selling property in Madambakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the property transaction. Buyers should be aware that the guideline value may influence the overall cost of the transaction.

When registering a property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees. This ensures that the registration process is aligned with the current market conditions and property valuations.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar Extn 20th Street?

The current guideline value of Padmavathy Nagar Extn 20th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has experienced several changes. From Rs 3,000 per sq.ft in 2012, it decreased to Rs 2,010 per sq.ft in 2017, and then increased to Rs 3,300 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in this area?

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. The duty is calculated based on the higher of the guideline value or the sale price.

Which office handles property registrations for this street?

The Selaiyur Sub Registrar Office handles property registrations for Padmavathy Nagar Extn 20th Street. It is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Padmavathy Nagar Extn 20th Street?

The land classification for Padmavathy Nagar Extn 20th Street is Residential Special Type - III, indicating its designated use for residential purposes.