Guideline Value for Padmavathy Nagar Extn 7th Cross Street

Padmavathy Nagar Extn 7th Cross Street guideline value

The current guideline value of Padmavathy Nagar Extn 7th Cross 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 7th Cross Street has changed

The guideline value for Padmavathy Nagar Extn 7th Cross Street has seen 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 value increased to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 raised it to Rs 3,300 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 reflects a 10% increase, indicating a steady adjustment in the guideline value over the years.

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 in this area is Rs 2,400 per sq.ft, placing Padmavathy Nagar Extn 7th Cross Street above the median with its current value of Rs 3,300 per sq.ft.

• Padmavathy Nagar Extn 7th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 6th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 8th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 6th Cross Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 9th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn Perumal Koil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar Extn 7th 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 would be Rs 33,00,000. The stamp duty, calculated at 7%, would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, these fees total 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.

For additional calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathy Nagar Extn 7th Cross Street?

The Sub Registrar Office that covers Padmavathy Nagar Extn 7th Cross 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 in property transactions in Madambakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the transaction must reflect a value that meets or exceeds the guideline value set for the specific street.

During the registration process, buyers and sellers must ensure that all fees, including stamp duty and registration fees, are calculated based on this guideline value. This ensures compliance with local regulations and helps avoid any legal issues during the property transfer.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar Extn 7th Cross Street?

The current guideline value of Padmavathy Nagar Extn 7th 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 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 this street?

Padmavathy Nagar Extn 7th Cross Street is classified as Residential Special Type - III.

What is the range of guideline values in Madambakkam?

The guideline values in Madambakkam range from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft.

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.