Guideline Value for Padmavathy Nagar Extn Perumal Koil Street

Padmavathy Nagar Extn Perumal Koil Street guideline value

The current guideline value of Padmavathy Nagar Extn Perumal Koil 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 Perumal Koil Street has changed

The guideline value for Padmavathy Nagar Extn Perumal Koil Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which reflects a 10% increase from the 2023 revision, where the value was Rs 3,000 per sq.ft. Notably, there were no figures available for the years 2002, 2003, 2007, and 2017.

Looking back further, the guideline value remained unchanged from 2012 to 2023 at Rs 3,000 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%, moving from Rs 3,000 per sq.ft to Rs 3,300 per sq.ft.

Guideline values in Madambakkam

Madambakkam has 1151 streets under the Selaiyur SRO, with guideline values for 2024 ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value in this area is Rs 2,400 per sq.ft, placing Padmavathy Nagar Extn Perumal Koil Street above the median.

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

Stamp duty and registration fee for property in Padmavathy Nagar Extn Perumal Koil 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 at 7% would amount to 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Padmavathy Nagar Extn Perumal Koil Street?

The Sub Registrar Office that covers Padmavathy Nagar Extn Perumal Koil 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 details.

How the guideline value is used when you buy or sell in Madambakkam

The guideline value is a crucial factor in the property registration process in Madambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are based on this value or the sale price, whichever is higher. This ensures transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Padmavathy Nagar Extn Perumal Koil Street?

The current guideline value of Padmavathy Nagar Extn Perumal Koil 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 increased from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. There were no figures available for several years, including 2002, 2003, 2007, and 2017.

What are the guideline values for other streets in Madambakkam?

Other streets in Madambakkam have varying guideline values. For example, streets like Padmavathy Nagar Extn 9th Street and Padmavathy Nagar Main Road also have a guideline value of Rs 3,300 per sq.ft in 2024.

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

The stamp duty for properties in Padmavathy Nagar Extn Perumal Koil Street is 7%, while the registration fee is 2%. For a 1,000 sq.ft property, the total cost would be Rs 2,97,000, including both fees.

Which office handles property registrations in this area?

The Selaiyur Sub Registrar Office is responsible for property registrations in Padmavathy Nagar Extn Perumal Koil Street. It is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.