Guideline Value for Benjamin Naidu Street

Benjamin Naidu Street guideline value

The current guideline value of Benjamin Naidu Street is Rs 800 per sq.ft, effective from 1 July 2024. This street is located in Molachoor village and falls under the Sunguvarchattram SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Benjamin Naidu Street has changed

The guideline value for Benjamin Naidu Street has seen several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which remained unchanged in the subsequent revisions of 2017 and 2023. The 2017 revision recorded a value of Rs 536 per sq.ft, reflecting a decrease of 33% from 2012. However, from 2017 to 2023, the value increased by 49% back to Rs 800 per sq.ft, and it has remained the same through to the 2024 revision.

For the years 2002, 2003, and 2007, the register has no figure for Benjamin Naidu Street. As of the 2024 revision, the guideline value stands at Rs 800 per sq.ft, indicating no overall change from the 2012 figure.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO with a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft. The median value for these streets is Rs 600 per sq.ft, placing Benjamin Naidu Street's 2024 figure above that median.

• B.B Innaiyya Naidu Street: Rs 500 per sq.ft (2024)
• Bhanu Nagar: Rs 460 per sq.ft (2024)
• Banu Nagar Phase-II: Rs 460 per sq.ft (2024)
• Bharathidhasan Street: Rs 600 per sq.ft (2024)
• Balas Garden: Rs 600 per sq.ft (2024)
• Bharathiyar Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Benjamin Naidu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000. Together, the total cost for these fees would be Rs 72,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Benjamin Naidu Street?

The Sub Registrar Office that covers Benjamin Naidu Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property in Molachoor, as it determines the applicable stamp duty and registration fees. Buyers and sellers must consider the guideline value to ensure they are paying the correct fees during the transaction process.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two will be used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Benjamin Naidu Street?

The current guideline value of Benjamin Naidu Street is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 800 per sq.ft since 2012, with fluctuations in earlier years, including a decrease to Rs 536 per sq.ft in 2017 before returning to Rs 800 per sq.ft in 2023.

What is the land classification for Benjamin Naidu Street?

The land classification for Benjamin Naidu Street is Residential Special Type - I, indicating its designated use for residential purposes.

What are the stamp duty rates applicable in Molachoor?

The stamp duty rate in Molachoor is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office do I need to register property in Molachoor?

Property in Molachoor should be registered at the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.