Guideline Value for Padmavathy Nagar Extn 6th Street

Padmavathy Nagar Extn 6th Street guideline value

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

The guideline value for Padmavathy Nagar Extn 6th Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 3,000 per sq.ft, which remained unchanged in the 2023 revision. However, the 2024 revision marked an increase to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

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, with a median value of Rs 2,400 per sq.ft. The guideline value of Padmavathy Nagar Extn 6th Street is above this median.

• Padmavathy Nagar Extn 6th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 7th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 5th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 7th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 8th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 4th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar Extn 6th 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 or the sale price.

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

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

The Sub Registrar Office that covers Padmavathy Nagar Extn 6th 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 plays a crucial role during the registration of property transactions in Madambakkam. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is legally recognized and recorded.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

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

The current guideline value of Padmavathy Nagar Extn 6th 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 remained unchanged at Rs 3,000 per sq.ft from 2012 to 2023, before increasing 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 6th Street?

Padmavathy Nagar Extn 6th Street is classified as Residential Special Type - III.

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

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

How is stamp duty calculated for property in Padmavathy Nagar Extn 6th Street?

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