Guideline Value for Naidu Street Balakrishnan Lane

Naidu Street Balakrishnan Lane guideline value

The current guideline value for Naidu Street Balakrishnan Lane is Rs 5,500 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 IV Type - I.

How the guideline value of Naidu Street Balakrishnan Lane has changed

The guideline value for Naidu Street Balakrishnan Lane has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 5,000 per sq.ft, which decreased to Rs 3,350 per sq.ft in the 2017 revision. However, the value significantly increased to Rs 5,000 per sq.ft in the 2023 revision and further rose to Rs 5,500 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figure for this street in the years 2002, 2003, and 2007.

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 among these streets is Rs 6,100 per sq.ft, placing Naidu Street Balakrishnan Lane's 2024 guideline value below this median.

• Naidu Street and 4th Main Road Extension (Kottur Garden): Rs 9,400 per sq.ft (2024)
• Naidu Street: Rs 9,400 per sq.ft (2024)
• Naidu Lane 2nd Street: Rs 6,100 per sq.ft (2024)
• Naidu Lane 1 Street: Rs 6,100 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)

Stamp duty and registration fee for property in Naidu Street Balakrishnan Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. 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 Street Balakrishnan Lane?

The Sub Registrar Office that covers Naidu Street Balakrishnan Lane 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 during property registration in Adayar. It serves as a reference point for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a value that reflects the government’s assessment of the property’s worth.

When buying or selling property, the guideline value helps in determining the minimum price at which the property can be registered. This ensures transparency and helps in avoiding undervaluation during the registration process.

Frequently asked questions

What is the current guideline value of Naidu Street Balakrishnan Lane?

The current guideline value of Naidu Street Balakrishnan Lane 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 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What is the land classification for Naidu Street Balakrishnan Lane?

Naidu Street Balakrishnan Lane is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Naidu Street Balakrishnan Lane?

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

How is the stamp duty calculated for properties in Adayar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a property valued at Rs 55,00,000, the stamp duty would be 7% of this amount.