Guideline Value for EMBAR NAIDU LANE 2nd STREET

EMBAR NAIDU LANE 2nd STREET guideline value

The current guideline value of EMBAR NAIDU LANE 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 LANE 2nd STREET has changed

Over the years, the guideline value of EMBAR NAIDU LANE 2nd STREET has seen several revisions. In 2007, the value was Rs 1,750 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012. However, it dropped to Rs 1,340 per sq.ft in 2017, before rising significantly to Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Specifically, the changes between the revisions are as follows: from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, the value increased by 49%; and from 2023 to 2024, it rose by 10%. The register has no figure for this street for the years 2002 and 2003.

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, with a median value of Rs 4,900 per sq.ft. The guideline value of EMBAR NAIDU LANE 2nd STREET is below this median.

• EMBAR NAIDU LANE 1st STREET: Rs 2,200 per sq.ft (2024)
• Embar Naidu Main Road: Rs 2,700 per sq.ft (2024)
• Embar Naidu Lane: Rs 2,200 per sq.ft (2024)
• Embar Naidu Street: Rs 2,200 per sq.ft (2024)
• Embar Naidu 3rd Lane: 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 LANE 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 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, totaling 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 precise calculations.

Which Sub Registrar Office covers EMBAR NAIDU LANE 2nd STREET?

The EMBAR NAIDU LANE 2nd STREET is covered by 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 further assistance.

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

The guideline value is utilized during the registration of property transactions in Villivakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than fluctuating market prices.

When buying or selling property, it is essential to understand that the guideline value will influence the total costs involved. Buyers should be aware of the guideline value to ensure they are prepared for the associated fees during the registration process.

Frequently asked questions

What is the current guideline value of EMBAR NAIDU LANE 2nd STREET?

The current guideline value of EMBAR NAIDU LANE 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 1,750 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, with various increases and decreases in between. Notably, it increased by 10% from 2023 to 2024.

What is the land classification of EMBAR NAIDU LANE 2nd STREET?

EMBAR NAIDU LANE 2nd STREET is classified as Residential Class V Type - I.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in this area is 7% of the guideline value or the sale price, whichever is higher.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.