Guideline Value for Padmavathy Nagar Extn 6th Cross Street

Padmavathy Nagar Extn 6th Cross Street guideline value

The current guideline value of Padmavathy Nagar Extn 6th 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 6th Cross Street has changed

The guideline value for Padmavathy Nagar Extn 6th Cross Street has seen several revisions over the years. In 2012, the guideline value was Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and further rose to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The changes between the revisions include a 49% increase from 2017 to 2023 and a decrease of 33% from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 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 is Rs 2,400 per sq.ft, indicating that Padmavathy Nagar Extn 6th Cross Street's value is above this median.

• Padmavathy Nagar Extn 6th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 5th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 7th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 4th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 7th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar Extn 6th 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 is charged at 7%, resulting in Rs 2,31,000, while the registration fee at 2% amounts to Rs 66,000. Together, the total cost for these fees is 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathy Nagar Extn 6th Cross Street?

The Padmavathy Nagar Extn 6th Cross Street is covered by 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

When buying or selling property in Madambakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the Registration Department and is used as a basis for calculating these fees during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value as it impacts the overall cost of property transactions. This ensures that all parties involved in the transaction are informed about the financial obligations associated with property registration.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar Extn 6th Cross Street?

The current guideline value of Padmavathy Nagar Extn 6th 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 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Padmavathy Nagar Extn 6th Cross Street?

The land classification for Padmavathy Nagar Extn 6th Cross Street is Residential Special Type - III.

What is the registration office for this street?

The Selaiyur Sub Registrar Office covers Padmavathy Nagar Extn 6th Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is stamp duty calculated for properties in this area?

Stamp duty is 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 stamp duty would be Rs 2,31,000 at 7%.