Guideline Value for HariKrishna Naidu Street

HariKrishna Naidu Street guideline value

The current guideline value of HariKrishna Naidu Street is Rs 1,001 per sq.ft, effective from 1 July 2024. This street is located in Menambedu village, under the Ambattur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of HariKrishna Naidu Street has changed

The guideline value for HariKrishna Naidu Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 800 per sq.ft. This was followed by a decrease to Rs 536 per sq.ft in 2017. In 2023, the value increased to Rs 1,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,001 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 87%. Overall, from 2012 to 2024, the guideline value has risen by 25%.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median guideline value for these streets is Rs 1,003 per sq.ft, placing HariKrishna Naidu Street's 2024 figure below that median.

• Gurusamy Street: Rs 1,700 per sq.ft (2024)
• Guru Nel Street: Rs 1,001 per sq.ft (2024)
• Indian Bank Colony: Rs 1,700 per sq.ft (2024)
• Govindharajan Street: Rs 1,700 per sq.ft (2024)
• Indira Nagar: Rs 1,001 per sq.ft (2024)
• Indira Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in HariKrishna Naidu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,001 per sq.ft, the total guideline value would be Rs 10,01,000. The stamp duty at 7% would amount to Rs 70,070, and the registration fee at 2% would be Rs 20,020, bringing the total fees together to Rs 90,090. It's important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers HariKrishna Naidu Street?

The Sub Registrar Office that covers HariKrishna Naidu Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Menambedu. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is assessed to ensure that the transaction is registered at a value that reflects the official rates set by the government. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of HariKrishna Naidu Street?

The current guideline value of HariKrishna Naidu Street is Rs 1,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,001 per sq.ft in 2024. There are no figures available for the years 2002, 2003, and 2007.

What is the land classification for HariKrishna Naidu Street?

HariKrishna Naidu Street is classified as Residential Class IV Type - I, indicating its designation for residential use.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 10,01,000 would incur a stamp duty of Rs 70,070 at a rate of 7%.

Which office do I need to visit for property registration in this area?

The Ambattur Sub Registrar Office is responsible for property registration in the area, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.