Guideline Value for ADI NAIDU LANE

Adi Naidu Lane guideline value

The current guideline value of Adi Naidu Lane is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village under the Villivakkam SRO, classified as Residential Class IV Type - III.

How the guideline value of Adi Naidu Lane has changed

The guideline value for Adi Naidu Lane has seen several revisions over the years. In 2012, the guideline value was Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. The value rose significantly to Rs 2,500 per sq.ft in 2023, and then increased again to Rs 2,700 per sq.ft in 2024, marking an 8% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, the value increased by 49%, while the overall change from 2012 to 2024 is an 8% increase. The fluctuations in the guideline value reflect the adjustments made by the Registration Department over the years.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, indicating that the guideline value for Adi Naidu Lane is below this median.

• Adi Naidu Street: Rs 3,300 per sq.ft (2024)
• AGATHEESWARAR KOIL 1st Street: Rs 3,300 per sq.ft (2024)
• AGATHEESWARAR KOIL 2nd STREET: Rs 3,300 per sq.ft (2024)
• Agathiyar Nagar: Rs 4,900 per sq.ft (2024)
• AGATHIYAR NAGAR 10th STREET: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Adi Naidu Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Adi Naidu Lane?

Adi Naidu Lane falls under the jurisdiction of the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Villivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the guideline value ensures that the transaction is recorded at a value that reflects the official assessment by the Registration Department. This helps in maintaining transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Adi Naidu Lane?

The current guideline value of Adi Naidu Lane is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the median guideline value for streets in Villivakkam?

The median guideline value for streets in Villivakkam is Rs 4,900 per sq.ft, indicating that Adi Naidu Lane's value is below this median.

What are the stamp duty and registration fees for property in Adi Naidu Lane?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 2,43,000.

Which Sub Registrar Office covers Adi Naidu Lane?

The Villivakkam Sub Registrar Office covers Adi Naidu Lane, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.