Guideline Value for Naidu 1st Street

Naidu 1st Street guideline value

The current guideline value of Naidu 1st Street is Rs 6,100 per sq.ft, effective from 1 July 2024. This street is located in Adayar village, under the Adayar SRO, and is classified as Residential Class II Type - I.

How the guideline value of Naidu 1st Street has changed

Over the years, the guideline value of Naidu 1st Street has seen significant changes. The 2007 revision set the value at Rs 2,500 per sq.ft, which then increased to Rs 5,500 per sq.ft in the 2012 revision. However, this was followed by a decrease to Rs 3,685 per sq.ft in the 2017 revision. The value rose again to Rs 5,500 per sq.ft in 2023, and with the latest revision in 2024, it has reached Rs 6,100 per sq.ft. The changes from 2017 to 2023 saw an increase of 49%, while the jump from 2023 to 2024 is 11%.

There are no figures available in the register for the years 2002 and 2003 for this street. The overall increase from the 2007 revision to the 2024 revision is 144%.

Guideline values in Adayar

Adayar village has a total of 92 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median value is Rs 6,100 per sq.ft, which is the same as the guideline value for Naidu 1st Street.

• Naidu 1st Cross Street: Rs 6,100 per sq.ft (2024)
• Naidu 2nd Cross Street: Rs 6,100 per sq.ft (2024)
• Naidu 2nd Street: Rs 6,100 per sq.ft (2024)
• Naidu 3rd Cross Street: Rs 6,100 per sq.ft (2024)
• Naidu 3rd Street: Rs 6,100 per sq.ft (2024)
• Naidu 4th Cross Street: Rs 6,100 per sq.ft (2024)

Stamp duty and registration fee for property in Naidu 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,100 per sq.ft, the total guideline value would be Rs 61,00,000. The stamp duty at 7% would amount to Rs 4,27,000, and the registration fee at 2% would be Rs 1,22,000. Together, the total fees would be Rs 5,49,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Naidu 1st Street?

The Sub Registrar Office that covers Naidu 1st Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Adayar. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction process.

When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Naidu 1st Street?

The current guideline value of Naidu 1st Street is Rs 6,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2007 to Rs 6,100 per sq.ft in 2024, reflecting an overall increase of 144% over the years.

What is the stamp duty rate for properties in Naidu 1st Street?

The stamp duty rate for properties in Naidu 1st Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Naidu 1st Street?

The Sub Registrar Office for Naidu 1st Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the land classification of Naidu 1st Street?

Naidu 1st Street is classified as Residential Class II Type - I, which is important for understanding its usage and development potential.