Guideline Value for Padmavathy Nagar Extn 8th Street

Padmavathy Nagar Extn 8th Street guideline value

The current guideline value of Padmavathy Nagar Extn 8th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Residential Special Type - III.

How the guideline value of Padmavathy Nagar Extn 8th Street has changed

The guideline value for Padmavathy Nagar Extn 8th Street has remained stable at Rs 3,000 per sq.ft from the 2012 revision until the 2023 revision. In the 2024 revision, the value increased by 10% to Rs 3,300 per sq.ft.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Therefore, the only recorded changes in guideline value occurred between the 2012, 2023, and 2024 revisions.

Guideline values in Madambakkam

In Madambakkam, there are 1151 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 this area is Rs 2,400 per sq.ft, placing Padmavathy Nagar Extn 8th Street above this median.

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

Stamp duty and registration fee for property in Padmavathy Nagar Extn 8th 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 fees 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Padmavathy Nagar Extn 8th Street?

The Sub Registrar Office that covers Padmavathy Nagar Extn 8th 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, within 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 critical factor when registering property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that both parties are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar Extn 8th Street?

The current guideline value of Padmavathy Nagar Extn 8th 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, and then increased by 10% to Rs 3,300 per sq.ft in 2024. There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street.

What is the land classification of Padmavathy Nagar Extn 8th Street?

Padmavathy Nagar Extn 8th Street is classified as Residential Special Type - III. This classification is important for understanding the permissible uses of the land.

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

The stamp duty is charged at 7% of the higher of the guideline value or the sale price, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current guideline value would incur total fees of Rs 2,97,000.

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

The Selaiyur Sub Registrar Office covers Padmavathy Nagar Extn 8th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073. You can find more information about your SRO through the provided link.