Guideline Value for Padmavathy Nagar Extn 3rd Street

Padmavathy Nagar Extn 3rd Street guideline value

The current guideline value of Padmavathy Nagar Extn 3rd 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 it is classified as Residential Special Type - III.

How the guideline value of Padmavathy Nagar Extn 3rd Street has changed

The guideline value for Padmavathy Nagar Extn 3rd Street has seen several revisions over the years. The register shows that in 2012, the guideline value was Rs 3,000 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the value was again Rs 3,000 per sq.ft, but it increased to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 in this village is Rs 2,400 per sq.ft, indicating that Padmavathy Nagar Extn 3rd Street's 2024 figure is above that median.

• Padmavathy Nagar Extn 2nd Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 4th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 26th 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 5th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 25th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar Extn 3rd 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 an accurate calculation of your stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathy Nagar Extn 3rd Street?

The Sub Registrar Office that covers Padmavathy Nagar Extn 3rd 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, 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 in property transactions in Madambakkam. It helps determine the minimum value at which a property can be sold or registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for both the buyer and seller. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar Extn 3rd Street?

The current guideline value of Padmavathy Nagar Extn 3rd 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, with no change from 2012 to 2023. This reflects an overall increase of 10% from 2012 to 2024.

What is the land classification of Padmavathy Nagar Extn 3rd Street?

Padmavathy Nagar Extn 3rd Street is classified as Residential Special Type - III.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

Which office handles registrations for Padmavathy Nagar Extn 3rd Street?

The Selaiyur Sub Registrar Office handles registrations for Padmavathy Nagar Extn 3rd Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.