Guideline Value for Naidu 4th Cross Street

Naidu 4th Cross Street guideline value

The current guideline value of Naidu 4th Cross 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 4th Cross Street has changed

The guideline value for Naidu 4th Cross Street has undergone several revisions over the years. In 2007, the value was Rs 2,500 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in 2012, marking a 120% rise. However, it then decreased to Rs 3,685 per sq.ft in 2017, reflecting a 33% drop. The value further increased to Rs 5,500 per sq.ft in 2023, and currently stands at Rs 6,100 per sq.ft from the 2024 revision, showing an 11% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has risen by 144%, highlighting the fluctuations in property valuation over the years.

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 for these streets is Rs 6,100 per sq.ft, which is equal to the current guideline value of Naidu 4th Cross Street.

• Naidu 3rd Street: Rs 6,100 per sq.ft (2024)
• Naidu 3rd Cross Street: Rs 6,100 per sq.ft (2024)
• Naidu Lane 1 Street: Rs 6,100 per sq.ft (2024)
• Naidu 2nd Street: Rs 6,100 per sq.ft (2024)
• Naidu Lane 2nd Street: Rs 6,100 per sq.ft (2024)
• Naidu Street: Rs 9,400 per sq.ft (2024)

Stamp duty and registration fee for property in Naidu 4th Cross 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, bringing the total fees to 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 on fees applicable to your property transaction.

Which Sub Registrar Office covers Naidu 4th Cross Street?

The Sub Registrar Office that covers Naidu 4th Cross Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Adayar. It is used to determine the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

During the registration process, the guideline value is essential for calculating the stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is accurately recorded in the official register.

Frequently asked questions

What is the current guideline value of Naidu 4th Cross Street?

The current guideline value of Naidu 4th Cross 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 a 144% increase over the years.

What is the land classification for Naidu 4th Cross Street?

Naidu 4th Cross Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Naidu 4th Cross Street?

The Adayar Sub Registrar Office, which covers Naidu 4th Cross Street, is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for properties in Adayar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a plot valued at Rs 61,00,000 would incur a stamp duty of Rs 4,27,000 at a rate of 7%.