Guideline Value for EMBAR NAIDU STREET

Embar Naidu Street guideline value

The current guideline value of Embar Naidu 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 falls under the Residential Class V Type - I land classification.

How the guideline value of Embar Naidu Street has changed

The guideline value for Embar Naidu Street has seen several revisions over the years. In 2002, the guideline value was Rs 486 per sq.ft. This increased to Rs 555 per sq.ft in 2003, marking a change of +14%. Following this, the value rose significantly to Rs 1,750 per sq.ft in 2007, which is a change of +215%. In 2012, the value was Rs 2,000 per sq.ft, reflecting an increase of +14%. However, in 2017, it decreased to Rs 1,340 per sq.ft, which was a drop of -33%. The value then increased to Rs 2,000 per sq.ft in 2023, and most recently, it has risen to Rs 2,200 per sq.ft in 2024, showing a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +353%. The register has no figures for the years not mentioned in the revisions.

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 guideline value in this area is Rs 4,900 per sq.ft, indicating that the guideline value for Embar Naidu Street is below that median.

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

Stamp duty and registration fee for property in Embar Naidu 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 be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Embar Naidu Street?

The Sub Registrar Office that covers Embar Naidu Street 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 property transactions in Villivakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value serves as a benchmark to ensure that the transaction is registered at a fair value.

When selling property, the guideline value can also influence the sale price, as it sets a standard for property valuation in the area. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Embar Naidu Street?

The current guideline value of Embar Naidu 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 486 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +353% over the years.

Which Sub Registrar Office is responsible for Embar Naidu Street?

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

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees in property transactions. It also serves as a benchmark for property valuation, influencing both the sale price and compliance with local regulations.