Guideline Value for Padmavathy Nagar Extn 7th Street

Padmavathy Nagar Extn 7th Street guideline value

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

The guideline value for Padmavathy Nagar Extn 7th Street has seen several revisions over the years. The earliest available figures are from the 2012 revision, which set the value at Rs 3,000 per sq.ft. This figure remained unchanged in the 2023 revision. However, the 2024 revision increased the guideline value to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Between the 2012 and 2024 revisions, the overall change is also a 10% increase. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2017 for this street in the register.

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 value for these streets is Rs 2,400 per sq.ft, placing Padmavathy Nagar Extn 7th Street's 2024 figure above the median.

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

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

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

The Sub Registrar Office that covers Padmavathy Nagar Extn 7th 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 during property registration in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a buyer or seller engages in a transaction, the guideline value will be referenced to calculate the applicable duties and fees. This ensures transparency and fairness in the property registration process.

Frequently asked questions

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

The current guideline value of Padmavathy Nagar Extn 7th 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 at Rs 3,000 per sq.ft from 2012 to 2023, before increasing to Rs 3,300 per sq.ft in the 2024 revision. Overall, the change from 2012 to 2024 is a 10% increase.

What is the land classification for Padmavathy Nagar Extn 7th Street?

Padmavathy Nagar Extn 7th Street is classified as Residential Special Type - III, indicating its designated use for residential purposes.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000. The duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers this street?

The Selaiyur Sub Registrar Office covers Padmavathy Nagar Extn 7th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.