Guideline Value for Naidu Street Balakrishnan Lane

Naidu Street Balakrishnan Lane guideline value

The current guideline value of Naidu Street Balakrishnan Lane is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Kottur 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 seen several revisions over the years. In 2012, the value was Rs 5,000 per sq.ft, which decreased to Rs 3,350 per sq.ft in 2017, marking a decline of 33%. The value then increased significantly to Rs 5,000 per sq.ft in 2023, and further rose to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kottur

In Kottur village, there are 114 streets under the Adayar SRO that have 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, placing Naidu Street Balakrishnan Lane's 2024 figure below that median.

• Naidu Street Extension: Rs 9,400 per sq.ft (2024)
• Naidu Street: Rs 9,400 per sq.ft (2024)
• Muthulakshmi Salai (L.B. Road): Rs 12,700 per sq.ft (2024)
• New Street: Rs 6,100 per sq.ft (2024)
• Mannappan Street: Rs 3,300 per sq.ft (2024)
• Malligaipoo Nagar Slum: Rs 3,300 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, bringing the total fees to Rs 4,95,000. Duty is charged on the guideline value or the sale price, whichever is higher. 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 Kottur

The guideline value is a critical factor in the registration process when buying or selling property in Kottur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

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.

Which Sub Registrar Office should I visit for property transactions in this area?

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

How is stamp duty calculated for properties in Kottur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at 7%.