Guideline Value for Naduvakkarai Street

Naduvakkarai Street guideline value

The current guideline value of Naduvakkarai Street in Naduvakkarai village, under the AnnaNagar SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This classification falls under Residential Class I Type - III.

How the guideline value of Naduvakkarai Street has changed

The guideline value for Naduvakkarai Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,300 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, in 2017, it dropped to Rs 3,350 per sq.ft, before rising again to Rs 5,000 per sq.ft in 2023. The latest revision in 2024 has further increased the value to Rs 5,500 per sq.ft. The register has no figures for the years 2002 and 2003.

From 2007 to 2012, there was a notable increase of 285%, followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, the guideline value has increased by 323% from 2007 to 2024.

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 Naduvakkarai Street's 2024 figure below this median.

• Nadhamuni Reddy Street: Rs 5,400 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 Naduvakkarai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that 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 Naduvakkarai Street?

The Sub Registrar Office that covers Naduvakkarai 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 is a crucial factor when registering property transactions in Naduvakkarai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that both buyers and sellers are aware of the official value assigned to the property.

When a property is sold, the guideline value is used to calculate the applicable duties, which are based on the higher of the guideline value or the sale price. This ensures transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Naduvakkarai Street?

The current guideline value of Naduvakkarai Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 323% over the years.

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

Other streets in Naduvakkarai include Nadhamuni Reddy Street and Nathamuni 2nd Cross Street, both at Rs 5,400 per sq.ft, and M.G.R.Street, New Colony, which is also at Rs 5,500 per sq.ft in 2024.

What is the registration office for Naduvakkarai Street?

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

How is stamp duty calculated for properties in Naduvakkarai?

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 55,00,000 would incur a stamp duty of Rs 3,85,000 at 7%.