Guideline Value for Periyasekkadu Padmavathy Nagar

Periyasekkadu Padmavathy Nagar guideline value

The current guideline value of Periyasekkadu Padmavathy Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Periyasekkadu Padmavathy Nagar has changed

The guideline value register shows no figures for Periyasekkadu Padmavathy Nagar in the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision is from 2024, where the guideline value is set at Rs 1,600 per sq.ft.

In the 2024 revision, the guideline value for Periyasekkadu Padmavathy Nagar is equal to the median value of Rs 1,600 per sq.ft for 1946 streets in Madhavaram under the Madhavaram SRO, which range from Rs 1,300 to Rs 7,500 per sq.ft. There have been no changes between the revisions above.

Guideline values in Madhavaram

In Madhavaram, the guideline values for various streets vary significantly. The median guideline value is Rs 1,600 per sq.ft, which is the same as the current value for Periyasekkadu Padmavathy Nagar.

• Periya Salai, Ponniammanmedu (Ward-22): Rs 2,200 per sq.ft (2024)
• Periya Salai (Ponniamman Medu): Rs 2,200 per sq.ft (2024)
• Periya Salai 4th Cross St (Ward-22): Rs 1,600 per sq.ft (2024)
• Periya Salai 3rd Cross St (Ward-22): Rs 1,600 per sq.ft (2024)
• Periyasalai 2nd Cross St (Ward-22): Rs 1,600 per sq.ft (2024)
• Periyathambi Naicker St (Ward-10): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Periyasekkadu Padmavathy Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periyasekkadu Padmavathy Nagar?

The Sub Registrar Office that covers Periyasekkadu Padmavathy Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the buyer and seller must declare the sale price, and the higher of the sale price or the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures transparency and compliance with the regulations set forth by the registration department.

Frequently asked questions

What is the current guideline value for Periyasekkadu Padmavathy Nagar?

The current guideline value for Periyasekkadu Padmavathy Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

What land classification does Periyasekkadu Padmavathy Nagar fall under?

Periyasekkadu Padmavathy Nagar is classified as Residential Class II Type - I.

How often do guideline values get revised in Madhavaram?

The guideline values in Madhavaram are revised periodically, with the most recent revision occurring in 2024. However, there are no figures available for the years 2002, 2003, 2007, 2012, 2017, and 2023 for Periyasekkadu Padmavathy Nagar.

What is the stamp duty rate for property transactions in Periyasekkadu Padmavathy Nagar?

The stamp duty rate for property transactions in Periyasekkadu Padmavathy Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles all registrations for properties in the area.