Guideline Value for Naidu Lane 2nd Street

Naidu Lane 2nd Street guideline value

The current guideline value of Naidu Lane 2nd 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 Lane 2nd Street has changed

The guideline value for Naidu Lane 2nd Street has seen several revisions over the years. The earliest recorded figure is from 2007, set at Rs 2,000 per sq.ft. This increased significantly to Rs 5,500 per sq.ft in 2012, marking a 175% rise. However, the value then dropped to Rs 3,685 per sq.ft in 2017, a decrease of 33%. The next revision in 2023 brought the value up to Rs 5,500 per sq.ft, followed by a substantial increase to Rs 6,100 per sq.ft in 2024, reflecting an 11% change.

In summary, from the 2007 revision to the 2024 revision, the guideline value has increased by 205%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Adayar

In Adayar, there are 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 equal to the current guideline value of Naidu Lane 2nd Street.

• Naidu Lane 1 Street: Rs 6,100 per sq.ft (2024)
• Naidu Street: Rs 9,400 per sq.ft (2024)
• Naidu 4th Cross Street: Rs 6,100 per sq.ft (2024)
• Naidu 3rd Street: Rs 6,100 per sq.ft (2024)
• Naidu Street and 4th Main Road Extension (Kottur Garden): Rs 9,400 per sq.ft (2024)
• Naidu 3rd Cross Street: Rs 6,100 per sq.ft (2024)

Stamp duty and registration fee for property in Naidu Lane 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,100 per sq.ft, the total guideline value amounts to Rs 61,00,000. The stamp duty, charged at 7%, would be Rs 4,27,000, while the registration fee at 2% would be Rs 1,22,000. Together, the total cost for these fees would be Rs 5,49,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Naidu Lane 2nd Street?

The Sub Registrar Office that covers Naidu Lane 2nd 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 when buying or selling property in Adayar, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Naidu Lane 2nd Street?

The current guideline value of Naidu Lane 2nd Street is Rs 6,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, increasing from Rs 2,000 per sq.ft in 2007 to Rs 6,100 per sq.ft in 2024, representing an overall increase of 205%.

What are the stamp duty and registration fees for properties in Naidu Lane 2nd Street?

The stamp duty is charged at 7% of the guideline value, and the registration fee is charged at 2%. For a property valued at Rs 61,00,000, the total fees would amount to Rs 5,49,000.

Which office handles property registrations for Naidu Lane 2nd Street?

The Adayar Sub Registrar Office handles property registrations for Naidu Lane 2nd Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What does the guideline value indicate?

The guideline value indicates the minimum value at which a property can be registered in Adayar. It is essential for calculating the stamp duty and registration fees during property transactions.