Guideline Value for G.D. Naidu Street

G.D. Naidu Street guideline value

The current guideline value of G.D. Naidu Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of G.D. Naidu Street has changed

Over the years, the guideline value of G.D. Naidu Street has experienced several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and then rose again to Rs 2,750 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a notable increase of 49%. When comparing the overall change from 2012 to 2024, the guideline value has increased by 10% despite the decrease observed between 2012 and 2017.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, positioning G.D. Naidu Street's 2024 figure above this median.

• G.D. Naidu 1st cross Street: Rs 2,750 per sq.ft (2024)
• Gangusamy Street: Rs 1,650 per sq.ft (2024)
• Ganga Narayanan St: Rs 1,650 per sq.ft (2024)
• Godhavari Street: Rs 2,750 per sq.ft (2024)
• Gomathi Nagar: Rs 2,750 per sq.ft (2024)
• Gomathi Nagar Yamuna Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in G.D. Naidu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would amount to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers G.D. Naidu Street?

The G.D. Naidu Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable duties, ensuring that the transaction is documented accurately. Buyers and sellers should be aware of the current guideline values to understand their financial obligations during the property transfer process.

Frequently asked questions

What is the current guideline value of G.D. Naidu Street?

The current guideline value of G.D. Naidu Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification of G.D. Naidu Street?

G.D. Naidu Street is classified as Residential Class I Type - II.

Where can I find the registration office for G.D. Naidu Street?

The registration office for G.D. Naidu Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Chitlapakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, the stamp duty for a property valued at Rs 27,50,000 would be calculated at 7% of this amount.