Guideline Value for NAIDU STREET

Naidu Street guideline value

The current guideline value of Naidu Street in Kolatti village is Rs 220 per sq.ft, effective from 1 July 2024. This street falls under the Ponneri SRO and is classified as Residential Class II Type - I.

How the guideline value of Naidu Street has changed

The guideline value for Naidu Street has seen several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which then decreased to Rs 134 per sq.ft in the 2017 revision. Following this, the 2023 revision brought the value back up to Rs 200 per sq.ft. The most recent revision in 2024 has increased the value to Rs 220 per sq.ft, marking a 10% increase from the previous year.

Looking at the changes over the years, from 2017 to 2023, there was a significant increase of 49%. However, the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for Naidu Street.

Guideline values in Kolatti

In Kolatti village, there are 18 streets under the Ponneri SRO that have a 2024 guideline value ranging from Rs 220 to Rs 330 per sq.ft, with a median value of Rs 275 per sq.ft. Naidu Street's 2024 guideline value of Rs 220 per sq.ft is below this median.

• Nandiyam Pakkam Road: Rs 220 per sq.ft (2024)
• Parasakthi Nagar: Rs 220 per sq.ft (2024)
• Prasanthi Nagar: Rs 330 per sq.ft (2024)
• P.S.Srinivasa Nagar: Rs 330 per sq.ft (2024)
• Pudhupedu Adidravidar Kudi Irupu: Rs 220 per sq.ft (2024)
• Pudupedu Grama Sudukadu Pattai: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Naidu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value amounts to Rs 2,20,000. The stamp duty is charged at 7%, resulting in Rs 15,400, while the registration fee at 2% amounts to Rs 4,400. Together, the total cost for stamp duty and registration fee is Rs 19,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Naidu Street?

The Sub Registrar Office that covers Naidu Street is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more details.

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

The guideline value is an essential aspect of property transactions in Kolatti, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on the official value set by the government.

It is crucial for buyers and sellers to be aware of the guideline value when engaging in property transactions, as it directly impacts the overall cost associated with the registration process. Understanding the guideline value helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Naidu Street?

The current guideline value of Naidu Street is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then back to Rs 200 per sq.ft in 2023, and finally to Rs 220 per sq.ft in 2024.

What is the land classification for Naidu Street?

Naidu Street is classified as Residential Class II Type - I according to the guideline value register.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for property in Naidu Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 2,20,000, the stamp duty would be Rs 15,400 at 7%.