Guideline Value for Naddu Street

Naddu Street guideline value

The current guideline value of Naddu Street in Mambakkam village is Rs 275 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Class II Type - I.

How the guideline value of Naddu Street has changed

In the 2012 revision, the guideline value for Naddu Street was Rs 275 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 184 per sq.ft, reflecting a decrease of 33%. The value then increased significantly to Rs 275 per sq.ft in the 2023 revision, maintaining the same value in the 2024 revision, indicating no change from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has remained at Rs 275 per sq.ft, showing no increase. The revisions for the years 2002, 2003, and 2007 have no figures recorded for this street.

Guideline values in Mambakkam

In Mambakkam, there are 39 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 1,418 per sq.ft. The median value for these streets is Rs 305 per sq.ft, making the guideline value of Naddu Street below this median.

• Muthumariamman Kovil Street: Rs 305 per sq.ft (2024)
• Narayana Nagar: Rs 505 per sq.ft (2024)
• New Avenue: Rs 500 per sq.ft (2024)
• Mettu Street: Rs 305 per sq.ft (2024)
• M.B.C Street: Rs 305 per sq.ft (2024)
• Padavettamman Kovil Street: Rs 305 per sq.ft (2024)

Stamp duty and registration fee for property in Naddu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 275 per sq.ft, the total guideline value would be Rs 2,75,000. The stamp duty at 7% would amount to Rs 19,250, and the registration fee at 2% would be Rs 5,500, leading to a total of Rs 24,750. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Naddu Street?

The Sub Registrar Office covering Naddu Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Mambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Naddu Street?

The current guideline value of Naddu Street is Rs 275 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 275 per sq.ft since 2012, with a decrease to Rs 184 per sq.ft in 2017, followed by a return to Rs 275 per sq.ft in 2023 and 2024. There are no recorded figures for the years 2002, 2003, and 2007.

What is the land classification of Naddu Street?

Naddu Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for a property in Naddu Street?

For a property valued at Rs 2,75,000, the stamp duty would be Rs 19,250 and the registration fee would be Rs 5,500, totaling Rs 24,750. Duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Naddu Street located?

The Sub Registrar Office for Naddu Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.