Guideline Value for Padmavathy Nagar-Bhuvaneswari Nagar Joint Roat

Padmavathy Nagar-Bhuvaneswari Nagar Joint Roat guideline value

The current guideline value for Padmavathy Nagar-Bhuvaneswari Nagar Joint Roat is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Padmavathy Nagar-Bhuvaneswari Nagar Joint Roat has changed

The guideline value for this street has undergone 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. However, the value saw a significant increase to Rs 3,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 for Padmavathy Nagar-Bhuvaneswari Nagar Joint Roat is above this median.

• Padmavathy Nagar 9th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extension: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 9th Main Road: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 10th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar Extn 11th Street: Rs 3,300 per sq.ft (2024)
• Padmavathy Nagar 9th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Padmavathy Nagar-Bhuvaneswari Nagar Joint Roat

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, resulting in a total of 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 also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Padmavathy Nagar-Bhuvaneswari Nagar Joint Roat?

The Sub Registrar Office that covers Padmavathy Nagar-Bhuvaneswari Nagar Joint Roat 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.

To find more information, you can find your SRO.

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

When buying or selling property in Madambakkam, the guideline value plays a crucial role in determining the registration fees and stamp duties. The value is used to calculate the amount payable at the time of registration, ensuring that the transaction is recorded accurately in the official register.

It is essential to be aware of the guideline value as it can affect the overall cost of the transaction. Buyers and sellers should always check the current guideline value before proceeding with any property transactions to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value for Padmavathy Nagar-Bhuvaneswari Nagar Joint Roat?

The current guideline value for Padmavathy Nagar-Bhuvaneswari Nagar Joint Roat 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 back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 10%.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%, and the registration fee would be Rs 66,000 at a rate of 2%. The total cost for these fees would amount to Rs 2,97,000.

Which Sub Registrar Office covers this street?

The Selaiyur Sub Registrar Office covers Padmavathy Nagar-Bhuvaneswari Nagar Joint Roat, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for this area?

The land classification for Padmavathy Nagar-Bhuvaneswari Nagar Joint Roat is Residential Special Type - III, indicating its designated use for residential purposes.