Guideline Value for Naidu Street Extension

Naidu Street Extension guideline value

The current guideline value for Naidu Street Extension in Kottur village is Rs 9,400 per sq.ft, effective from 1 July 2024. This property falls under the Adayar SRO and is classified as Residential Special Type - I.

How the guideline value of Naidu Street Extension has changed

The guideline value for Naidu Street Extension has seen significant changes over the years. In 2002, the value was Rs 632 per sq.ft, which increased to Rs 681 per sq.ft in 2003. Following this, the value surged to Rs 2,500 per sq.ft in 2007, marking a substantial increase of 267%. The value then rose to Rs 8,500 per sq.ft in 2012, reflecting a 240% increase from the previous revision. However, it decreased to Rs 5,695 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 8,500 per sq.ft in 2023, before reaching the current rate of Rs 9,400 per sq.ft in 2024, an increase of 11% over the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1387%. There are no figures available for the revisions from years not listed in the register.

Guideline values in Kottur

Kottur village has 114 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft, with a median value of Rs 6,100 per sq.ft. The guideline value for Naidu Street Extension is above this median.

• Naidu Street Balakrishnan Lane: Rs 5,500 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 Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 9,400 per sq.ft, the total guideline value amounts to Rs 94,00,000. The stamp duty at 7% would be Rs 6,58,000, and the registration fee at 2% would be Rs 1,88,000, resulting in a total of Rs 8,46,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Naidu Street Extension?

The Naidu Street Extension falls under the jurisdiction of 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 crucial factor in the registration process when buying or selling property in Kottur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees. Buyers should ensure they are aware of the current guideline value to accurately assess the financial implications of their property transaction.

Frequently asked questions

What is the current guideline value of Naidu Street Extension?

The current guideline value of Naidu Street Extension is Rs 9,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 632 per sq.ft in 2002 to Rs 9,400 per sq.ft in 2024, marking an overall increase of 1387% over the years.

What are the other streets in Kottur and their guideline values?

Other streets in Kottur include Naidu Street Balakrishnan Lane at Rs 5,500 per sq.ft, Muthulakshmi Salai (L.B. Road) at Rs 12,700 per sq.ft, and Mannappan Street at Rs 3,300 per sq.ft, among others.

How is the stamp duty calculated for properties in Naidu Street Extension?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 6,58,000 at the current guideline value.

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

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