Guideline Value for Padmavathy Nagar Extn 22nd Street

Padmavathy Nagar Extn 22nd Street guideline value

The current guideline value of Padmavathy Nagar Extn 22nd 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 22nd Street has changed

Looking back at the revisions, the guideline value for Padmavathy Nagar Extn 22nd Street was Rs 3,000 per sq.ft in the 2012 revision. From 2012 to 2024, there was an increase of 10%, resulting in the current value of Rs 3,300 per sq.ft. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

In summary, the only revision figures available for Padmavathy Nagar Extn 22nd Street are from 2012 and 2024. The increase from Rs 3,000 to Rs 3,300 indicates a significant change in the guideline value over this period.

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, with a median value of Rs 2,400 per sq.ft. The guideline value for Padmavathy Nagar Extn 22nd Street is above this median, indicating a higher valuation compared to many other streets in the village.

• Padmavathy Nagar Extn 22nd Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 23rd Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 21st Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 23rd Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 21st Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 24th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar Extn 22nd 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 be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padmavathy Nagar Extn 22nd Street?

The Sub Registrar Office that covers Padmavathy Nagar Extn 22nd 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 during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should be aware of the guideline value to ensure compliance with the legal requirements during property registration.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar Extn 22nd Street?

The current guideline value of Padmavathy Nagar Extn 22nd 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 increased from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the land classification for Padmavathy Nagar Extn 22nd Street?

The land classification for Padmavathy Nagar Extn 22nd Street is Residential Special Type - III. This classification indicates the intended use of the land in this area.

Where can I find the registration office for this street?

The registration office that covers Padmavathy Nagar Extn 22nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.