Guideline Value for EMBAR NAIDU 3RD LANE

Embar Naidu 3rd Lane guideline value

The current guideline value of Embar Naidu 3rd Lane 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 3rd Lane has changed

Over the years, the guideline value of Embar Naidu 3rd Lane has seen several revisions. The earliest recorded value was Rs 2,000 per sq.ft in 2012, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in 2024. The register has no figure for this street in 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase, resulting in an overall change of +10% from 2012 to 2024.

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 value for these streets is Rs 4,900 per sq.ft, indicating that Embar Naidu 3rd Lane's current value is below that median.

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

Stamp duty and registration fee for property in Embar Naidu 3rd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to 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 details.

Which Sub Registrar Office covers Embar Naidu 3rd Lane?

The Sub Registrar Office that covers Embar Naidu 3rd Lane is 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 an essential factor when buying or selling property in Villivakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction reflects a fair valuation as per the local regulations.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Embar Naidu 3rd Lane?

The current guideline value of Embar Naidu 3rd Lane 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 to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in Embar Naidu 3rd Lane?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Embar Naidu 3rd Lane?

The Villivakkam Sub Registrar Office handles registrations for Embar Naidu 3rd Lane, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Embar Naidu 3rd Lane?

Embar Naidu 3rd Lane is classified as Residential Class V Type - I, indicating its designation for residential use within the area.