Guideline Value for EMBAR NAIDU LANE

Embar Naidu Lane guideline value

The current guideline value of Embar Naidu Lane is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village and falls under the Villivakkam SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Embar Naidu Lane has changed

The guideline value for Embar Naidu Lane has seen several revisions over the years. The earliest recorded value was Rs 486 per sq.ft in 2002, which increased to Rs 555 per sq.ft in 2003. Following this, the value experienced a significant rise to Rs 1,750 per sq.ft in 2007, and then to Rs 2,000 per sq.ft in 2012. However, it saw a decrease to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft in 2024.

The changes between the revisions highlight the fluctuations in the guideline value. From 2002 to 2003, there was an increase of 14%. The value surged by 215% from 2003 to 2007. The years 2007 to 2012 saw a 14% increase, followed by a decrease of 33% from 2012 to 2017. The value increased by 49% from 2017 to 2023, and finally, there was a 10% rise from 2023 to 2024. Overall, the guideline value has increased by 353% from 2002 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, with a median value of Rs 4,900 per sq.ft. The guideline value for Embar Naidu Lane is below this median.

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

Stamp duty and registration fee for property in Embar Naidu 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, making the total fees together Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Embar Naidu Lane?

The Sub Registrar Office that covers Embar Naidu 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 a crucial factor in the registration process when buying or selling property in Villivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable to the transaction.

When a buyer and seller agree on a sale price, the guideline value is compared to ensure compliance with the legal requirements for registration. The stamp duty is charged based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Embar Naidu Lane?

The current guideline value of Embar Naidu 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 486 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting various increases and decreases over the years.

What are the stamp duty rates for property in Embar Naidu Lane?

The stamp duty rate for property transactions in Embar Naidu Lane is 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in Villivakkam?

The Villivakkam Sub Registrar Office handles property registrations in Villivakkam, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the guideline value determined for properties?

The guideline value is determined by the Registration Department's guideline value register, which is revised periodically based on various factors affecting property values in the area.