Guideline Value for Padmavathy Nagar Extn 23rd Street

Padmavathy Nagar Extn 23rd Street guideline value

The current guideline value of Padmavathy Nagar Extn 23rd Street is Rs 3,300 per sq.ft. This street is located in Madambakkam village under the Selaiyur SRO, classified as Residential Special Type - III.

How the guideline value of Padmavathy Nagar Extn 23rd Street has changed

The guideline value for Padmavathy Nagar Extn 23rd Street has undergone several revisions. The oldest available figure is from the 2012 revision, which was Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in the 2017 revision. The most recent revision in 2024 has increased the guideline value to Rs 3,300 per sq.ft, marking a significant increase of 64% from the 2017 figure.

Between the 2012 and 2017 revisions, there was a decrease of 33%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, 2007, and 2023 for this street.

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 guideline value in this village is Rs 2,400 per sq.ft, which means Padmavathy Nagar Extn 23rd Street's current value is above the median.

• Padmavathy Nagar Extn 23rd Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 24th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 22nd Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 24th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 22nd Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 25th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar Extn 23rd 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padmavathy Nagar Extn 23rd Street?

The Sub Registrar Office that covers Padmavathy Nagar Extn 23rd 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, within 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 critical factor when registering property in Madambakkam. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased, ensuring that the transaction is recorded accurately in public records.

When you buy or sell property, the guideline value helps in calculating the applicable stamp duty and registration fees. These charges are based on the guideline value or the sale price, whichever is higher, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value for Padmavathy Nagar Extn 23rd Street?

The current guideline value for Padmavathy Nagar Extn 23rd Street is Rs 3,300 per sq.ft as per the 2024 revision.

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, and then increased to Rs 3,300 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 10%.

What is the land classification for Padmavathy Nagar Extn 23rd Street?

Padmavathy Nagar Extn 23rd Street is classified as Residential Special Type - III, indicating its suitability for residential development.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are 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 total stamp duty and registration fees would amount to Rs 2,97,000.