Guideline Value for Nadhamuni Reddy Street

Nadhamuni Reddy Street guideline value

The current guideline value of Nadhamuni Reddy Street is Rs 5,400 per sq.ft, effective from 1 July 2024. This street is located in Naduvakkarai village under the AnnaNagar SRO, classified as Residential Class II Type - II.

How the guideline value of Nadhamuni Reddy Street has changed

The guideline value for Nadhamuni Reddy Street has seen several revisions over the years. The earliest recorded value was Rs 1,800 per sq.ft in 2007, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 178%. However, there was a decrease to Rs 3,350 per sq.ft in 2017, a drop of 33%. Following this, the value surged to Rs 5,000 per sq.ft in 2023, and then to Rs 5,400 per sq.ft in 2024, reflecting an 8% increase.

Notably, the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 200%, showcasing significant changes in property valuation over the years.

Guideline values in Naduvakkarai

Naduvakkarai village has a total of 148 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median value for these streets is Rs 11,500 per sq.ft, placing Nadhamuni Reddy Street's current guideline value below this median.

• Naduvakkarai Street: Rs 5,500 per sq.ft (2024)
• Nathamuni 2nd Cross Street: Rs 5,400 per sq.ft (2024)
• New Colony, Periyar Street, Slum Clearance Board Flats, Naduvakkarai TNHB Land: Rs 5,400 per sq.ft (2024)
• M.G.R.Street, New Colony: Rs 5,500 per sq.ft (2024)
• Maseela Maheshwar Street (Sabari Nagar): Rs 5,400 per sq.ft (2024)
• Pillaiar Koil Street: Rs 5,400 per sq.ft (2024)

Stamp duty and registration fee for property in Nadhamuni Reddy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,400 per sq.ft, the total guideline value amounts to Rs 54,00,000. The stamp duty at 7% would be Rs 3,78,000, and the registration fee at 2% would be Rs 1,08,000, totaling Rs 4,86,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nadhamuni Reddy Street?

The Sub Registrar Office that covers Nadhamuni Reddy Street is the AnnaNagar 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 details.

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

The guideline value plays a crucial role in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Naduvakkarai, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal documentation.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Proper understanding of these values can help in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Nadhamuni Reddy Street?

The current guideline value of Nadhamuni Reddy Street is Rs 5,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,800 per sq.ft in 2007 to Rs 5,400 per sq.ft in 2024, marking a total increase of 200% over this period.

What are the other streets in Naduvakkarai with their guideline values?

Other streets in Naduvakkarai include Naduvakkarai Street at Rs 5,500 per sq.ft, Nathamuni 2nd Cross Street at Rs 5,400 per sq.ft, and several others, with values ranging from Rs 3,300 to Rs 15,900 per sq.ft.

What is the stamp duty rate for properties in Nadhamuni Reddy Street?

The stamp duty rate for properties in Nadhamuni Reddy Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Nadhamuni Reddy Street?

The Sub Registrar Office for Nadhamuni Reddy Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.