Guideline Value for Padmavathy Nagar Extn 4th Street

Padmavathy Nagar Extn 4th Street guideline value

The current guideline value of Padmavathy Nagar Extn 4th 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 4th Street has changed

The guideline value for Padmavathy Nagar Extn 4th Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is an increase from Rs 3,000 per sq.ft in the previous revision of 2023. Notably, there was no change in the value between the 2012 and 2023 revisions, as both were recorded at Rs 3,000 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Overall, from 2012 to 2024, there has been a 10% increase in the guideline value, reflecting the rise from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024. The change from 2023 to 2024 represents a 10% increase.

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 the area is Rs 2,400 per sq.ft, placing Padmavathy Nagar Extn 4th Street's 2024 value above this median.

• Padmavathy Nagar Extn 3rd Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 2nd Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 5th 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 6th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar Extn 4th 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 amount to 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 or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padmavathy Nagar Extn 4th Street?

The Sub Registrar Office that covers Padmavathy Nagar Extn 4th 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 in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar Extn 4th Street?

The current guideline value of Padmavathy Nagar Extn 4th 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, marking a 10% increase. There was no change between the 2012 and 2023 revisions, as both were recorded at Rs 3,000 per sq.ft.

What is the land classification for Padmavathy Nagar Extn 4th Street?

Padmavathy Nagar Extn 4th Street is classified as Residential Special Type - III, indicating its designated use within the area.

Where can I find the Selaiyur Sub Registrar Office?

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 is stamp duty calculated for properties in Madambakkam?

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