Guideline Value for Naidu Street

Naidu Street guideline value

The current guideline value of Naidu Street in Thirumangalam village is Rs 250 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Class III Type - I.

How the guideline value of Naidu Street has changed

Naidu Street has seen several revisions in its guideline value over the years. The register shows no figures for the years 2002, 2003, and 2007. In 2012, the guideline value was Rs 250 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 167 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased by 50% to Rs 250 per sq.ft, and it has remained the same through the 2024 revision.

Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 250 per sq.ft. The 2023 to 2024 revision saw no change, with the value staying at Rs 250 per sq.ft.

Guideline values in Thirumangalam

In Thirumangalam, there are 42 streets under the Sunguvarchattram SRO with a 2024 guideline value ranging from Rs 250 to Rs 2,000 per sq.ft. The median value for these streets is Rs 605 per sq.ft, indicating that Naidu Street's 2024 figure is below this median.

• Moogambiga Nagar: Rs 605 per sq.ft (2024)
• Om Nagar: Rs 605 per sq.ft (2024)
• Mettu Street: Rs 300 per sq.ft (2024)
• Padmavathi Nagar: Rs 605 per sq.ft (2024)
• Palkarar Street: Rs 600 per sq.ft (2024)
• Palla Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Naidu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Naidu Street?

The Sub Registrar Office that covers Naidu Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thirumangalam. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is assessed to ensure that the appropriate taxes are levied. Buyers and sellers must be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Naidu Street?

The current guideline value of Naidu Street is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft since 2012, with a decrease to Rs 167 per sq.ft in 2017 and an increase back to Rs 250 per sq.ft in 2023. There was no change in the value from 2023 to 2024.

What is the median guideline value in Thirumangalam?

The median guideline value for streets in Thirumangalam is Rs 605 per sq.ft, which is higher than the current value of Naidu Street.

What are the stamp duty rates for properties in Naidu Street?

The stamp duty for properties in Naidu Street is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

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

The Sub Registrar Office for Naidu Street is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.