Guideline Value for Padmavathy Nagar-Perumal Koil Street

Padmavathy Nagar-Perumal Koil Street guideline value

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

Over the years, the guideline value for Padmavathy Nagar-Perumal Koil Street has experienced several revisions. In 2012, the guideline value was Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then rose to Rs 3,300 per sq.ft in the 2024 revision. Notably, the register has no figures for the years 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 the 2012 revision to the 2024 revision shows a slight increase of 10%.

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-Perumal Koil Street is above this median.

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

Stamp duty and registration fee for property in Padmavathy Nagar-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 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 further assistance.

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

The Sub Registrar Office that covers Padmavathy Nagar-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 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. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

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

The current guideline value of Padmavathy Nagar-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 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 of Padmavathy Nagar-Perumal Koil Street?

Padmavathy Nagar-Perumal Koil Street is classified as Residential Special Type - III.

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

The Sub Registrar Office for Padmavathy Nagar-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.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the actual sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be calculated at 7% of this amount.