Guideline Value for Naidu 3rd Street

Naidu 3rd Street guideline value

The current guideline value of Naidu 3rd 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 3rd Street has changed

The guideline value for Naidu 3rd Street has undergone several revisions over the years. The 2007 revision set the value at Rs 2,500 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in 2012, marking a 120% rise. However, from 2012 to 2017, the value decreased by 33% to Rs 3,685 per sq.ft. The subsequent revision in 2023 saw a substantial increase to Rs 5,500 per sq.ft, followed by another increase to Rs 6,100 per sq.ft in 2024, representing an 11% rise.

Overall, from 2007 to 2024, the guideline value for Naidu 3rd Street has increased by 144%. The revisions from 2002 and 2003 do not have figures listed for this street in the register.

Guideline values in Adayar

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

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

Stamp duty and registration fee for property in Naidu 3rd 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, resulting in a total of Rs 5,49,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your stamp duty and registration fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Naidu 3rd Street?

The Sub Registrar Office that covers Naidu 3rd 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 a crucial factor in the registration process when buying or selling property in Adayar. It serves as the benchmark for calculating stamp duty and registration fees, ensuring that these fees are based on the current market standards set by the government.

When engaging in property transactions, it is essential to be aware of the guideline value, as it can significantly impact the overall costs involved in the registration process. Buyers and sellers should always check the latest guideline values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Naidu 3rd Street?

The current guideline value of Naidu 3rd 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 are the stamp duty rates for property transactions in Naidu 3rd Street?

The stamp duty rate for property transactions in Naidu 3rd Street is 7%, calculated on the higher of the guideline value or the sale price.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How can I calculate my registration fees?

You can calculate your registration fees using the stamp duty and registration fee calculator available online.