Guideline Value for Padmavathy Nagar Extn 25th Street

Padmavathy Nagar Extn 25th Street guideline value

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

The guideline value for Padmavathy Nagar Extn 25th Street has undergone 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 most recent revision in 2024 raised it further to Rs 3,300 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it saw a significant increase of 49%. The change from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 10% from 2012 to 2024.

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 25th Street above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value is 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 duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

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

The Sub Registrar Office that covers Padmavathy Nagar Extn 25th 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 plays a crucial role in property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid during the registration process.

It is essential for buyers and sellers to be aware of the guideline value as it ensures transparency in property transactions. The value reflects the government’s assessment of the property’s worth based on various factors, including location and land classification.

Frequently asked questions

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

The current guideline value of Padmavathy Nagar Extn 25th 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 several times, with the most recent increase being from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. Overall, from 2012 to 2024, there has been a 10% increase.

What is the land classification of Padmavathy Nagar Extn 25th Street?

Padmavathy Nagar Extn 25th Street is classified as Residential Special Type - III, indicating its designated use for residential purposes.

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, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Madambakkam?

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