Guideline Value for EMBAR NAIDU 2ND STREET

Embar Naidu 2nd Street guideline value

The current guideline value of Embar Naidu 2nd Street is Rs 2,200 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 V Type - I.

How the guideline value of Embar Naidu 2nd Street has changed

The guideline value for Embar Naidu 2nd Street has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. The value then increased significantly to Rs 2,000 per sq.ft in 2023, and now stands at Rs 2,200 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, there was a substantial increase of 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Embar Naidu 2nd Street's 2024 figure below that median.

• Embar Naidu 2nd Lane: Rs 2,200 per sq.ft (2024)
• Embar Naidu 3rd Lane: Rs 2,200 per sq.ft (2024)
• Embar Naidu 1st Street: Rs 2,200 per sq.ft (2024)
• Embar Naidu Lane: Rs 2,200 per sq.ft (2024)
• Embar Naidu 1st Lane: Rs 2,200 per sq.ft (2024)
• EMBAR NAIDU LANE 1st STREET: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Embar Naidu 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, resulting in a total of Rs 1,98,000. 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 more detailed calculations.

Which Sub Registrar Office covers Embar Naidu 2nd Street?

The Sub Registrar Office that covers Embar Naidu 2nd Street is 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 during property transactions in Villivakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and complies with local regulations.

Additionally, the guideline value serves as a benchmark for property valuation, helping both buyers and sellers understand the official worth of the property. It is essential to refer to the latest guideline values to ensure compliance and accurate financial planning during property transactions.

Frequently asked questions

What is the current guideline value of Embar Naidu 2nd Street?

The current guideline value of Embar Naidu 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Embar Naidu 2nd Street?

Embar Naidu 2nd Street is classified as Residential Class V Type - I.

What are the stamp duty and registration fees for a property in Embar Naidu 2nd Street?

The total stamp duty for a property valued at Rs 22,00,000 is Rs 1,54,000, and the registration fee is Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Embar Naidu 2nd Street?

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