Guideline Value for ADI NAIDU STREET

Adi Naidu Street guideline value

The current guideline value of Adi Naidu Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village, under the Villivakkam SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Adi Naidu Street has changed

The guideline value for Adi Naidu Street has seen several revisions over the years. Starting from Rs 443 per sq.ft in 2002, it increased to Rs 505 per sq.ft in 2003, marking a 14% increase. The value then rose significantly to Rs 850 per sq.ft in 2007, which was a 68% increase. Following that, the value jumped to Rs 3,000 per sq.ft in 2012, reflecting a remarkable 253% increase. However, it dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The value then increased again to Rs 3,000 per sq.ft in 2023, representing a 49% rise, and finally reached Rs 3,300 per sq.ft in 2024, a 10% increase.

There are no figures available for the revisions in years not mentioned in the list provided. The overall change from 2002 to 2024 is an increase of 645% in the guideline value.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value in the village is Rs 4,900 per sq.ft, placing Adi Naidu Street's current value below this median.

• Adi Naidu Lane: Rs 2,700 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)
• Agatheeswara 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value is 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 or the sale price.

You can use the stamp duty and registration fee calculator for precise calculations based on your property transaction.

Which Sub Registrar Office covers Adi Naidu Street?

Adi Naidu Street falls under the jurisdiction of the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By 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 crucial factor when registering property transactions in Villivakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value as it impacts the overall cost of the transaction. Buyers should be aware that the stamp duty is calculated based on the higher value between the guideline value and the sale price, which can affect their financial planning.

Frequently asked questions

What is the current guideline value of Adi Naidu Street?

The current guideline value of Adi Naidu 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 443 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 645%.

What is the stamp duty rate for properties in Adi Naidu Street?

The stamp duty for properties in Adi Naidu Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Which office handles registrations for Adi Naidu Street?

The Villivakkam Sub Registrar Office handles registrations for Adi Naidu Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How can I calculate the registration fees for my property?

You can calculate the registration fees for your property using the stamp duty and registration fee calculator available online.