Guideline Value for Padmavathy Nagar Extn 25th Cross Street

Padmavathy Nagar Extn 25th Cross Street guideline value

The current guideline value of Padmavathy Nagar Extn 25th Cross 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 25th Cross Street has changed

The guideline value for Padmavathy Nagar Extn 25th Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the current 2024 revision has further increased it to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The changes from 2017 to 2023 show a significant increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values 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 25th Cross Street above this median.

• Padmavathy Nagar Extn 25th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 24th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 26th-Madampakkam Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 24th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 26th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar Extn 25th Cross 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 cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathy Nagar Extn 25th Cross Street?

The Sub Registrar Office that covers Padmavathy Nagar Extn 25th Cross 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 details.

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 minimum value at which a property can be registered, ensuring that the transaction is documented accurately and transparently.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. This ensures that both the buyer and seller have a clear understanding of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar Extn 25th Cross Street?

The current guideline value of Padmavathy Nagar Extn 25th Cross 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 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012, showing significant fluctuations over the years.

What is the land classification for this street?

The land classification for Padmavathy Nagar Extn 25th Cross Street is Residential Special Type - III, indicating the nature of the properties in this area.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Padmavathy Nagar Extn 25th Cross 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.

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

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