Guideline Value for Padmavathy Nagar Extn 21st Street

Padmavathy Nagar Extn 21st Street guideline value

The current guideline value of Padmavathy Nagar Extn 21st 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 21st Street has changed

In the 2012 revision, the guideline value was set at Rs 3,000 per sq.ft. This represents a 10% increase to the current value of Rs 3,300 per sq.ft established in the 2024 revision. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

From 2012 to 2024, the guideline value rose from Rs 3,000 to Rs 3,300 per sq.ft. This change reflects the adjustments made over the years, culminating in the latest revision, which positions the street's value above the median for other streets in Madambakkam.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, indicating that Padmavathy Nagar Extn 21st Street's 2024 figure is above this median.

• Padmavathy Nagar Extn 21st Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 22nd Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 20th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 22nd Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 20th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 23rd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar Extn 21st 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 higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathy Nagar Extn 21st Street?

The Sub Registrar Office that covers Padmavathy Nagar Extn 21st 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, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it affects the applicable stamp duty and registration fees.

When a property is sold, the registration office uses the guideline value to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized assessment of property values. This process helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar Extn 21st Street?

The current guideline value of Padmavathy Nagar Extn 21st 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 3,300 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street.

What is the median guideline value for streets in Madambakkam?

The median guideline value for streets in Madambakkam is Rs 2,400 per sq.ft. Padmavathy Nagar Extn 21st Street's current value is above this median.

What are the registration fees for property in Padmavathy Nagar Extn 21st Street?

The registration fees include a stamp duty of 7% and a registration fee of 2% on the guideline value. For a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Which office handles the registration for Padmavathy Nagar Extn 21st Street?

The Selaiyur Sub Registrar Office handles the registration for Padmavathy Nagar Extn 21st Street. It is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.